based on gold: circumstances which have resonance with the world of today. We identify aggregate supply, aggregate demand …

monetary and financial system in transmitting those destabilizing impulses to the rest of the world. It explains the speed and … extent of the subsequent decline in terms of both banking crises and the collapse of the gold standard, which conspired in … the abandonment of the gold standard, which facilitated the pursuit of stabilizing monetary policies, but also in terms of …

The paper is a study of the price level and relative price effects of a policy to monetize gold and fix its price at a … gold standard and during the post-monetization period. The paper also explores the adjustments to fiat money which are … necessary to ensure that this type of gold monetization is non-inflationary. Finally, some conditions which produce a run on the …

economic performance? One based on fixed exchange rates: including the gold standard and its variants? Adjustable peg regimes … question is why have some monetary regimes been more successful than others? Specifically. why did the classical gold standard … evidence on the performance of three monetary regimes: the classical gold standard; Bretton Woods; and the current float; and …

silver closely track the movements in overall prices during the classical gold standard era. The one-to-one relationship …

motivations to return to gold in the interwar period. Then it evaluates the British and US plan for world monetary reform … policymakers alike. This paper asks whether it can be applied to understand the history of the world monetary system, by focusing … classical gold standard. The paper first discusses the underpinnings, and some of the problems, of a theory of the evolution of …

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 … assets; a gold exchange standard vs. a floating rate system. We rationalize the Triffin dilemma, which posits the fundamental …

In this paper we analyze the changing role of gold in the international monetary system, in particular the persistence … of gold holdings by monetary authorities for 20 years following the breakdown of the Brettone Woods system system and the … Second Amendment to the Articles of Agreement of the International Monetary Fund which severed the formal link to gold. We …

War. We argue that without the Depression the gold-exchange standard of the 1920s would have persisted until the outbreak … System of pegged-but-adjustable exchange rates and restrictions on capital-account convertibility, an unreformed gold …-exchange standard of pegged exchange rates and unlimited international capital mobility would have been restored. But this gold …