petroleum products by rail and pipelines. While crude oil transportation has generated intense policy debate about rail and …

reflected systematically in the price of gold and, hence, that gold price movements, under the maintained hypothesis, should … of gold prices on exchange rates conditional on other monetary and real macroeconomic variables, and applies the …

We compare the resumption of convertibility into gold by the United States in 1879 and Britain in 1925 to ascertain the …

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 …

formulate and examine precise and separate measures of return spillovers and volatility spillovers. Our framework facilitates … evidence of divergent behavior in the dynamics of return spillovers vs. volatility spillovers: Return spillovers display a … gently increasing trend but no bursts, whereas volatility spillovers display no trend but clear bursts …

Did adoption of the gold standard exacerbate or diminish macroeconomic volatility? Supporters thought so, critics … trade volatility from the late nineteenth and early twentieth century exposes a dramatic change. The classical gold standard … thought not, and theory offers ambiguous messages. A hard exchange-rate regime such as the gold standard might limit monetary …

the time-varying volatility of real gold prices if preference shocks for gold services are small under the classical gold …From 1836 to 2011, the average real rate of price change for gold in the United States is 1.1% per year and the … gold's real rate of price change with consumption and GDP growth rates are small and statistically insignificantly …