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In this paper I analyze the London Monetary and Economic Conference of 1933, an almost forgotten episode in U.S. monetary history. I study how the Conference shaped dollar policy during the second half of 1933 and early 1934. I use daily data to investigate the way in which the Conference and...
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In this paper I revisit the period leading to the abandonment of the gold standard by the U.S. in 1933. I analyze what the important players – and in particular FDR and the members of the advisory group known as the “Brains Trust” – thought about the gold standard. My conclusion is that...
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In this paper I revisit the period leading to the abandonment of the gold standard by the U.S. in 1933. I analyze what the important players - and in particular FDR and the members of the advisory group known as the "Brains Trust" - thought about the gold standard. My conclusion is that during...
Persistent link: https://www.econbiz.de/10012457288
part because nobody believes that America would ever default on its debt. Yet in 1933, Franklin D. Roosevelt did just that … annulling all debt contracts. American Default is the story of this forgotten chapter in America's history.Sebastian Edwards … the dollar. Anyone who held public and private debt suddenly saw its value reduced by nearly half, and debtors …
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