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 …

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 …

This paper provides a political economy perspective on gold standard adoption in the Kingdom of Yugoslavia which joined … relative costs faced by a peripheral country like Yugoslavia for maintaining a gold standard, stemming from a fluctuating … reasons why policy elites nevertheless endeavoured to adopt the gold standard are examined by looking at debates in Yugoslavia …

money for gold or any other good. Central banks have the monopoly to issue central bank money and have the power to create … traces the painful farewell from gold from the Classical Gold Standard in the early 19th century up to the end of the Bretton …