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We argue that Gibson's paradox has nothing to do with the Gold Standard per se, and it rather originates from low …) zero-mean. Although the Gold Standard is the only historical example of such a regime, Gibson's paradox is a feature of a …
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silver closely track the movements in overall prices during the classical gold standard era. The one-to-one relationship …
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, the United Kingdom and Sweden under the Gold Standard: under stable monetary regimes with clearly defined nominal anchors …
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This paper describes interactions between monetary and fiscal policies that affect equilibrium price levels and interest rates by critically surveying theories about (a) optimal anticipated inflation, (b) optimal unanticipated inflation, and (c) conditions that secure a "nominal anchor'' in the...
Persistent link: https://www.econbiz.de/10013324140
This paper describes interactions between monetary and fiscal policies that affect equilibrium price levels and interest rates by critically surveying theories about (a) optimal anticipated inflation, (b) optimal unanticipated inflation, and (c) conditions that secure a "nominal anchor'' in the...
Persistent link: https://www.econbiz.de/10012481961