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Stuck on Gold: Real Exchange Rate Volatility and the Rise and Fall of the Gold Standard

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NBER2005-11-01 更新2025-01-04 收录
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https://www.nber.org/papers/w11795
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Did adoption of the gold standard exacerbate or diminish macroeconomic volatility? Supporters thought so, critics thought not, and theory offers ambiguous messages. A hard exchange-rate regime such as the gold standard might limit monetary shocks if it ties the hands of policy makers. But any
提供机构:
美国国家经济研究局
创建时间:
2005-11-01
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