Narrow search
Showing 1 - 10 of 2,152
Cover Image
Was the emergence of the international gold standard expected? : melodramatic evidence from Indian government securities
Flandreau, Marc; Oosterlinck, Kim - 2011
standard. -- Exchange rate regime ; gold standard ; bimetallism ; credibility ; silver risk … supplies. However, more recent work has shown that the option character of bimetallism provided a stabilizing feedback loop … shows that up until 1874 markets were expecting bimetallism to last. It is only after this date that markets gradually …
Persistent link: https://www.econbiz.de/10008902902
Cover Image
Pegxit pressure : evidence from the classical gold standard
Mitchener, Kris; Pina, Gonçalo - 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/10011568741
Cover Image
The fuel of unparalleled recovery : monetary policy in South Africa between 1925 and 1936
Swanepoel, Christie; Fliers, Philip - 2021
The newly established South African Reserve Bank (SARB) was tasked to protect the currency by navigating the interwar gold standard, and, from March 1933, maintaining parity with the Pound Sterling. We find that South Africa's exit from gold secured an unparalleled and rapid recovery from the...
Persistent link: https://www.econbiz.de/10012543641
Cover Image
Pegxit Pressure : Evidence from the Classical Gold Standard
Mitchener, Kris James - 2017
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/10012965714
Cover Image
Realignment Expectations and the Us Dollar, 1890-1897 : Was There a 'Peso Problem'?
Hallwood, C. Paul; MacDonald, Ronald; Marsh, Ian W. - 2001
We investigate dollar-sterling exchange rate expectations during the period 1890-1908. We show that the dollar faced a 'Peso problem' in that for much of the period financial markets expected it to depreciate against sterling, but this never in fact happened - i.e. expectations were persistently...
Persistent link: https://www.econbiz.de/10014141012
Cover Image
Credibility of the Interwar Gold Standard, Uncertainty, and the Great Depression
Ferderer, J. Peter - 1999
were exported to other countries. This breakdown in cooperation resulted in the standard's loss of credibility, causing …
Persistent link: https://www.econbiz.de/10014208892
Cover Image
Inflation Targeting as the New Golden Standard
Spivak, Avia; Sussman, Nathan - C.E.P.R. Discussion Papers - 2008
limited deviation was possible within the 'gold points'. On the other hand, the credibility of inflation targeting regime is …
Persistent link: https://www.econbiz.de/10005124404
Cover Image
Gold rush : the political economy of gold standard adoption in the Kingdom of Yugoslavia
Jevtic, Aleksandar R. - 2020
This paper provides a political economy perspective on gold standard adoption in the Kingdom of Yugoslavia which joined the monetary system in midst of the Great Depression in June 1931. The analysis proceeds in three stages. First, the high relative costs faced by a peripheral country like...
Persistent link: https://www.econbiz.de/10012264852
Cover Image
Gold's overly long farewell as money
Herr, Hansjörg - 2024
Today all countries have fiat money issued by a central bank. There is no obligation by a central bank to exchange its money for gold or any other good. Central banks have the monopoly to issue central bank money and have the power to create their money out of nothing. Creating such a monetary...
Persistent link: https://www.econbiz.de/10014632720
Cover Image
Are Hard Pegs Ever Credible in Emerging Markets? Evidence from the Classical Gold Standard
Mitchener, Kris James - 2010
We test whether fixed exchange rate regimes are ever credible in emerging markets by analyzing the behavior of short-term domestic trade bills across countries during the classical gold standard period, the most widely used hard peg in modern financial history. We exploit the fact that global...
Persistent link: https://www.econbiz.de/10013150729