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Modern Perspectives on the Gold Standard

Barry Eichengreen editor Tamim Bayoumi editor Mark P Taylor editor

Format:Paperback

Publisher:Cambridge University Press

Published:29th May '08

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Modern Perspectives on the Gold Standard cover

This book explores exchange rate instability during the 1990s in the light of the operation of the gold standard in the years prior to 1914.

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.

"This volume honors its title by delivering two kinds of modern perspectives: recent advances in time-series econometrics, and recent policy concerns." Journal of Economics, Peter H. Lindert, University of California at Davis

ISBN: 9780521063517

Dimensions: 228mm x 152mm x 26mm

Weight: 619g

416 pages