Bordo, Michael D. (contributor); … - 2004 - [Elektronische Ressource]
because of the low volumes in this market between
the Great Depression and the end of the Second World War. We feel this … clear. First, inflation is not expected to be so high and variable as to
destroy the long-term bond market; inflation … form of commodity money, and under a commodity money standard,
market forces in the long run determined the price level …