Citation

Discussion Paper Details

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Full Details

Title: Getting Pegged: Comparing the 1879 and 1925 Gold Resumptions

Author(s): Tamim Bayoumi and Michael D Bordo

Publication Date: April 1996

Keyword(s): Exchange Rate Pegs and Gold Standard

Programme Area(s): International Macroeconomics

Abstract: We compare the resumption of convertibility into gold by the United States in 1879 and the United Kingdom in 1925 to ascertain the degree to which the outcomes reflect differences in strategies adopted by the authorities or in the external environment. It is concluded that external factors were the most important determinant of the very different outcomes of the two episodes.

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Bibliographic Reference

Bayoumi, T and Bordo, M. 1996. 'Getting Pegged: Comparing the 1879 and 1925 Gold Resumptions'. London, Centre for Economic Policy Research. https://cepr.org/active/publications/discussion_papers/dp.php?dpno=1390