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Gold Monetization and Gold Discipline / Robert P. Flood, Peter M. Garber.
- Format:
- Book
- Author/Creator:
- Flood, Robert P.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w0544.
- NBER working paper series no. w0544
- Language:
- English
- Subjects (All):
- Gold standard.
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 1980.
- Cambridge, Mass. : National Bureau of Economic Research, 1980.
- Summary:
- The paper is a study of the price level and relative price effects of a policy to monetize gold and fix its price at a given future time and at the then prevailing nominal price. Price movements are analyzed both during the transition to the gold standard and during the post-monetization period. The paper also explores the adjustments to fiat money which are necessary to ensure that this type of gold monetization is non-inflationary. Finally, some conditions which produce a run on the government's gold stock leading to the collapse of the gold standard and the timing of such a run are examined.
- Notes:
- Print version record
- September 1980.
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