Narrow search
Showing 1 - 10 of 2,218
Cover Image
The Real Exchange Rate and Fiscal Policy During the Gold Standard Periodevidence from the United States and Great Britain
Kaminsky, Graciela - 2010
We study the determinants of the dollar/pound real exchange rate from 1879 to 1914 focusing on the role of fiscal policy. We present a simple dynamic model of the real exchange rate to frame our analysis. The econometric results are based upon the decomposition of the sources of the innovation...
Persistent link: https://www.econbiz.de/10013138854
Cover Image
Stuck on Gold : Real Exchange Rate Volatility and the Rise and Fall of the Gold Standard
Chernyshoff, Natalia - 2010
absorption in a world of real shocks and nominal stickiness. A simple model shows how a lack of flexibility can be discerned in …
Persistent link: https://www.econbiz.de/10012761895
Cover Image
The "Gold Standard Paradox" and its Resolution
Buiter, Willem H. - 2010
This paper analyzes Krugman's contention that there is a quot;gold standard paradoxquot; in the speculative attack literature. The paradox occurs if a country's currency appreciates after it runs out of gold or equivalently if a speculative attack can happen only after the country...
Persistent link: https://www.econbiz.de/10012762724
Cover Image
Pegxit Pressure : Evidence from the Classical Gold Standard
Mitchener, Kris James - 2016
We develop a simple model that highlights the costs and benefits of fixed exchange rates as they relate to trade, and show that negative export-price shocks reduce fiscal revenue and increase the likelihood of an expected currency devaluation. Using a new high-frequency data set on...
Persistent link: https://www.econbiz.de/10012978846
Cover Image
The Missing Bretton Woods Debate Over Flexible Exchange Rates
Irwin, Douglas A. - 2017
The collapse of the gold standard in the 1930s sparked a debate about the merits of fixed versus floating exchange rates. Yet the debate quickly vanished: there was almost no discussion about the exchange rate regime at the Bretton Woods conference in 1944 because John Maynard Keynes and Harry...
Persistent link: https://www.econbiz.de/10012965437
Cover Image
A Model of the International Monetary System
Farhi, Emmanuel - 2016
We propose a simple model of the international monetary system. We study the world supply and demand for reserve assets … denominated in different currencies under a variety of scenarios: a Hegemon vs. a multipolar world; abundant vs. scarce reserve … instability of the system, as well as the common prediction regarding the natural and beneficial emergence of a multipolar world …
Persistent link: https://www.econbiz.de/10012990769
Cover Image
Current Account Reversals : Always a Problem?
Eichengreen, Barry - 2012
and pre-World War I gold standard eras …
Persistent link: https://www.econbiz.de/10013099286
Cover Image
Bury the Gold Standard? A Quantitative Exploration
Diercks, Anthony M.; Rawls, Jonathan; Sims, Eric R. - 2022
This paper is one of the first to study the present-day properties of the gold standard in a quantitative model commonly used in central banks. We incorporate gold into an otherwise standard estimated New Keynesian model and compare the positive and normative implications of adopting a gold...
Persistent link: https://www.econbiz.de/10014090784
Cover Image
The Ends of 30 Big Depressions
Ellison, Martin; Lee, Sang Seok; O'Rourke, Kevin Hjortshøj - 2022
How did countries recover from the Great Depression? In this paper we explore the argument that leaving the gold standard helped by boosting inflationary expectations and lowering real interest rates. We do so for a sample of 30 countries, using modern nowcasting methods and a new dataset...
Persistent link: https://www.econbiz.de/10014094973
Cover Image
Anticipating the Great Depression? Gustav Cassel's Analysis of the Interwar Gold Standard
Irwin, Douglas A. - 2011
The intellectual response to the Great Depression is often portrayed as a battle between the ideas of Friedrich Hayek and John Maynard Keynes. Yet both the Austrian and the Keynesian interpretations of the Depression were incomplete. Austrians could explain how a country might get into a...
Persistent link: https://www.econbiz.de/10013118250