Spahn, Peter - In: Jahrbücher für Nationalökonomie und Statistik 232 (2012) 4, pp. 482-488
Summary According to David Hume, the specie flow mechanism allows a stabilisation effect in the case of diverging current account imbalances in a gold standard system. Likewise in EMU, trade deficits and capital flight in GIPS countries generate a transfer of euro reserves into surplus...