total volume with an emphasis on the factor of changes in the price of gold. The value of the factor of the price of gold … the relevance of their safety. The paper tests the hypothesis that in such periods, the rise in the price of gold, due to … world markets of the 2000s and changes in the National Bank's gross reserves, as well as the influence of the gold factor on …

Why did monetary authorities hold large gold reserves under Bretton Woods (1944-1971) when only the US had to? We argue … that gold holdings were driven by institutional memory and persistent habits of central bankers. Countries continued to … back currency in circulation with gold reserves, following rules of the pre-WWII gold standard. The longer an institution …

understood in connection to the Bank's role as gold market-maker in London and to the position of London as world gold market …This paper studies the microfoundations of the so-called "gold device" policy by analysing a new dataset on the Bank of … England's operations in the gold market at the heyday of the classical gold standard. It explains that "gold devices" must be …

monetary disturbances as shocks to central bank gold demand. Based on a monetary DSGE model, the world gold reserve ratio (the …I study whether monetary gold hoarding was the main cause of the Great Depression in a structural VAR analysis. The … macroeconometric literature, the paper i) uses a newly-assembled monthly data set of the interwar world economy, and ii) models …