I consider whether a rules-based fiat money system can outperform the gold standard in delivering economic stability. I … discretion of the Fed. In general, I maintain that fiat money might outperform a gold standard if the central bank is committed …

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 …

initially examines the double nature of the price of gold both as a commodity and money from 1969 to 2014 by a statistics model …, namely the Ensemble Empirical Mode Decomposition (EEMD). We decompose and categorize the gold price by time frequency into … the total variability, respectively. The high frequency series is consistent with the reaction of gold price to the …

This paper initially analyzes the constitution of gold price by Ensemble Empirical Mode Decomposition (EEMD) with a … data span of 1969-2014. We decompose and categorize the change of the gold price by time frequency into three aspects: high … on interpreting gold's double nature and price change in the last 45 years …

influenced by government money and gold policy actions under a fixed money price of gold. An intertemporal, rational expectations …This paper is intended as a positive analysis of temporary government policy actions under a gold standard. To … understand a gold standard is to understand the private valuation of money and gold as assets, and how their asset values can be …

apparent necessity to accept deflation to preserve the gold standard and (2) his hope that deflation would overwhelm the price … policy recommendations inconsistent with his own theory, because of (1) his early attachment to the gold standard and the … rigidities that he believed obstructed a speedy recovery. By 1935, Hayek's attachment to the gold standard weakened, and he …