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Modern Perspectives on the Gold Standard by Tamim Bayoumi,Barry Eichengreen,Mark P. Taylor Pdf
Currency crises in Europe and Mexico during the 1990s provided stark reminders of the importance and the fragility of international financial markets. These experiences led some commentators to conclude that open international capital markets are incompatible with financial stability. But the pre-1914 gold standard is an obvious challenge to the notion that open capital markets are sources of instability. To deepen our understanding of how this system worked, this volume draws together recent research on the gold standard. Theoretical models are used to guide qualitative discussions of historical experience, while econometric methods are used to help the historical data speak clearly. The result is an overview of the gold standard, a survey of the relevant applied research in international macroeconomics, and a demonstration of how the past can help to inform the present.
Gold and the Modern World Economy by Moon Joong Tcha Pdf
Respected international experts such as Michael Bordo, Larry Sjaastad and Ken Clements are brought together in a wonderfully well researched new book on this most important of topics. This comprehensive, well-written book provides all you need to know about Gold and the Modern World Economy.
Gold Standard In Theory & History by Marc Flandreau Pdf
Since the first edition, published in 1985, much new research has been completed. This updated version includes five new essays, including a new introduction by Eichengreen and a discussion of the gold standard and the EU monetary debate.
Exchange Rates in the Periphery and International Adjustment Under the Gold Standard by Mr.Solomos Solomou,Mr.Luis Catão Pdf
The role of exchange rate flexibility in the periphery of the gold standard has been grossly overlooked. This paper builds a new dataset on trade-weighed exchange rates for the period 1870-1913 and finds that large currency movements in periphery countries operating inconvertible paper-money and silver-standard regimes induced major fluctuations in effective exchange rates worldwide. We relate the phenomenon to the international trade structure at the time and show that such currency fluctuations had powerful effects on trade flows. We conclude that nominal exchange rate flexibility in the periphery was an important ingredient of international payments adjustment under the gold standard.
The guide to returning to a gold standard All that glitters is gold and gold has never glittered so much as it has in the last decade, reaching staggering new prices in recent years. The definitive modern argument to returning to a gold standard, The New Gold Standard succinctly and clearly explains the nature of sound money, the causes and cures of inflation and deflation, the importance of fiscal responsibility within a sound monetary system, and the reasons for recessions and depressions. Little has been written beyond academic histories of the gold standard, but gold standard expert Paul Nathan fills that void for the first time Written for beginning and professional investors, the book provides guidance on how a gold standard will strengthen the dollar, reduce debt, and help stabilize the economy, offering easily applied strategies for investing in gold now and in the future The degree of depressions and recessions and the boom bust cycle can be avoided with a sustainable, stable monetary policy The international return to gold is not a fad but a sign of a world in monetary transition As long as governments continue to print money and deficits continue to rise, gold will be a hot commodity. As inflation creeps up, more and more talk will turn to returning to some version of the gold standard, and The New Gold Standard is the first major work to explicitly address the challenges and benefits of such a move.
The Gold Standard Peripheries by Anders Ögren,Lars Fredrik Øksendal Pdf
The remarkably successful gold standard before 1914 was the first international monetary regime. This book addresses the experience of the gold standard peripheries; i.e. regime takers with limited influence on the regime. How did small countries adjust to an international monetary regime with seemingly little room for policy autonomy?
The Gold Standard in Theory and History by Barry J. Eichengreen,Marc Flandreau Pdf
Since the first edition, published in 1985, much new research has been completed. This updated version includes five new essays, including a new introduction by Eichengreen and a discussion of the gold standard and the EU monetary debate.
Author : Mark C. Dillon Publisher : University Press of Colorado Page : 716 pages File Size : 47,7 Mb Release : 2018-10-22 Category : History ISBN : 9780874219203
Montana Vigilantes, 1863–1870 by Mark C. Dillon Pdf
A history and legal analysis of vigilantism in Montana in the 1860s, from a state Supreme Court justice and legal historian. Historians and novelists alike have described the vigilantism that took root in the gold-mining communities of Montana in the mid-1860s, but Mark C. Dillon is the first to examine the subject through the prism of American legal history, considering the state of criminal justice and law enforcement in the western territories and also trial procedures, gubernatorial politics, legislative enactments, and constitutional rights. Using newspaper articles, diaries, letters, biographies, invoices, and books that speak to the compelling history of Montana’s vigilantism in the 1860s, Dillon examines the conduct of the vigilantes in the context of the due process norms of the time. He implicates the influence of lawyers and judges who, like their non-lawyer counterparts, shaped history during the rush to earn fortunes in gold. Dillon’s perspective as a state Supreme Court justice and legal historian uniquely illuminates the intersection of territorial politics, constitutional issues, corrupt law enforcement, and the basic need of citizenry for social order. This readable and well-directed analysis of the social and legal context that contributed to the rise of Montana vigilante groups will be of interest to scholars and general readers interested in Western history, law, and criminal justice for years to come. “[Justice Dillon’s] book reads like a Western. Dillon masterfully sets the stage for the rise of the Montana vigilantes by bringing alive the people who created and lived in [mining] towns. There are heroes, villains, shady characters, and more than a few politicians, businessmen, lawyers and judges. What sets Dillon’s book apart from historical texts and fictional tales is that he provides legal analyses and explanations of the trials, sentences, due process and procedures of the day . . . And shed[s] grisly light on the details of the hangings. Dillon’s unique background as an attorney and judge and his downright dogged research are what makes this complex story so engaging. The prose is clear, crisp and gets to the point. . . . The book is satisfying because it answers contemporary nagging questions about the law regarding the vigilantes and the hangings.” —Gregory Zenon, Brooklyn Barrister “Dillon’s analysis of the vigilantes of Bannack, Alder Gulch, and Helena in Montana Territory is the most detailed, insightful, and legally nuanced yet produced. . . . This book is a model for historians to follow when dealing with 19th-century criminal proceedings. Establishing historical context includes examining the laws in books as well as the law in action.” —Gordon Morris Bakken, Great Plains Research
The Stability of the Gold Standard and the Evolution of the International Monetary System by Mr.Tamim Bayoumi,Mr.Barry J. Eichengreen Pdf
This paper examines some popular explanations for the smooth operation of the pre-1914 gold standard. We find that the rapid adjustment of economies to underlying disturbances played an important role in stabilizing output and employment under the gold standard system, but no evidence that this success also reflected relatively small underlying disturbances. Finally, the paper also suggests an explanation for the evolution of the international monetary system based on growing nominal inertia over time.
The Cash Nexus is the controversial history of money's central place in the world, from Niall Ferguson, bestselling author of Empire and Civilization Generations of historians have shied away from the truth behind the cliche: money makes the world go around. International bestseller Niall Ferguson answers the big questions about finance and its crucial place in bringing happiness and despair, warfare and welfare, boom and crash to nations buffeted by the onward march of history. Starting in 1700 and ending today, The Cash Nexus is a dazzling, powerful and controversial explanation of modern world history and the fundamental force that lurks behind it all. About the author: Niall Ferguson is one of Britain's most renowned historians. He is the author of Paper and Iron, The House of Rothschild, The Pity of War, Empire, Colossus, The War of the World, The Ascent of Money, High Financier, Civilization and The Great Degeneration. He has written and presented six highly successful television series for Channel Four: Empire, American Colossus, The War of the World, The Ascent of Money, Civilization and China: Triumph and Turmoil.
Why do banks collapse? Are financial systems more fragile in recent decades? Can policies to fix the banking system do more harm than good? What's the history of banking crises? With dozens of brief, non-technical articles by economists and other researchers, Banking Crises offers answers from diverse scholarly viewpoints.
Economic historians have established a new orthodoxy attributing the onset and severity of the Great Depression to the flawed workings of the international gold standard. This interpretation returns French gold policy to centre stage in understanding the origins of the Depression, its rapid spread, its severity and its duration. The Gold Standard Illusion exploits new archival resources to test how well this gold standard interpretation of the Great Depression is sustained by historical records in France, the country most often criticized for hoarding gold and failure to play by the rules of the gold standard game. The study follows four lines of inquiry, providing a history of French gold policy in its national and international contexts from 1914 to 1939, an analysis of the evolution of the Bank of France during this period and the degree to which gold standard belief retarded the adoption of modern central banking practice, a re-examination of interwar central bank cooperation in the period and its role in the breakdown of the gold standard, and a study of how gold standard rhetoric fostered misperceptions of financial and monetary problems. The French case was exceptional, marked by absolute and tenacious faith in the gold standard, by the import and accumulation of a vast hoard of gold desperately needed as reserves to prevent monetary contraction abroad, and by adamant claims for the need to return to gold after most countries had left the gold standard, which had become, in the words of John Maynard Keynes, 'a curse laid upon the economic life of the world'. The Gold Standard Illusion explains French gold standard belief and policy, the impact of French policy at home and abroad, and reassesses the gold standard interpretation of the Great Depression in the light of French experience.
This encyclopedia provides detailed information about the historical, cultural, social, religious, economic, and scientific significance of gold, across the globe and throughout history. Gold has been an intrinsic part of human culture and society throughout the world, both in ancient times and in the modern era. This precious metal has also played a central role in economics and politics throughout history. In fact, the value of gold remains a topic of debate amid the current upheavals of economic conditions and attendant reevaluations of modern financial principles. Gold: A Cultural Encyclopedia consists of more than 130 entries that encompass every aspect of gold, ranging from the ancient metallurgical arts to contemporary economies. The connections between these interdisciplinary subjects are explored and analyzed to highlight the many ways humankind's fascination with gold reflects historical, cultural, economic, and geographic developments. While the majority of the works related to gold focus on economic theory, this text goes beyond that to take a more sociocultural approach to the subject.