Download or read book The Objectives of German Monetary Policy During the Classical Gold Standard 1876 1913 written by Giuseppe Tullio and published by . This book was released on 2003 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Determinants of the German Official Discount Rate and of Liquidity Ratios During the Classical Gold Standard 1876 1913 written by Andrea Sommariva and published by . This book was released on 1987 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Destabilizing the Global Monetary System Germany s Adoption of the Gold Standard in the Early 1870s written by Mr.Johannes Wiegand and published by International Monetary Fund. This book was released on 2019-02-15 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 1871-73, newly unified Germany adopted the gold standard, replacing the silver-based currencies that had been prevalent in most German states until then. The reform sparked a series of steps in other countries that ultimately ended global bimetallism, i.e., a near-universal fixed exchange rate system in which (mostly) France stabilized the exchange value between gold and silver currencies. As a result, silver currencies depreciated sharply, and severe deflation ensued in the gold block. Why did Germany switch to gold and set the train of destructive events in motion? Both a review of the contemporaneous debate and statistical evidence suggest that it acted preemptively: the Australian and Californian gold discoveries of around 1850 had greatly increased the global supply of gold. By the mid-1860s, gold threatened to crowd out silver money in France, which would have severed the link between gold and silver currencies. Without reform, Germany would thus have risked exclusion from the fixed exchange rate system that tied together the major industrial economies. Reform required French accommodation, however. Victory in the Franco-Prussian war of 1870/71 allowed Germany to force accommodation, but only until France settled the war indemnity and regained sovereignty in late 1873. In this situation, switching to gold was superior to adopting bimetallism, as it prevented France from derailing Germany’s reform ex-post.
Download or read book Quantitative Economic Policy written by Reinhard Neck and published by Springer Science & Business Media. This book was released on 2008-03-04 with total page 386 pages. Available in PDF, EPUB and Kindle. Book excerpt: Econometric techniques and models are still being extensively used in the business of forecasting and policy advice. This book presents recent advances in the theory and applications of quantitative economic policy, with particular emphasis on fiscal and monetary policies in a European and global context. The volume honors Andrew Hughes Hallett, a pioneer and major scientist in quantitative economic policy analysis, whose contributors are among his friends and former students.
Download or read book Development Centre Studies The Making of Global Finance 1880 1913 written by Flandreau Marc and published by OECD Publishing. This book was released on 2009-10-30 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book traces the roots of global financial integration in the first “modern” era of globalisation from 1880 to 1913 and can serve as a valuable tool to current-day policy dilemmas by using historical data to see which policies in the past led to enhanced international financing for development.
Download or read book The European Monetary System written by Francesco Giavazzi and published by Cambridge University Press. This book was released on 1988 with total page 452 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recoge: 1. The international environment - 2. Disinflation, external adjustment and cooperation - 3. Exchange rates, capital mobility and monetary coordination - 4. The future og the European monetary system.
Download or read book The Origins History and Future of the Federal Reserve written by Michael D. Bordo and published by Cambridge University Press. This book was released on 2013-03-25 with total page 453 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essays from the 2010 centenary conference of the 1910 Jekyll Island meeting of American financiers and the US Treasury.
Download or read book A Retrospective on the Classical Gold Standard 1821 1931 written by Michael D. Bordo and published by University of Chicago Press. This book was released on 2009-02-15 with total page 694 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a timely review of the gold standard covering the 110 years of its operation until 1931, when Britain abandoned it in the midst of the Depression. Current dissatisfaction with floating rates of exchange has spurred interest in a return to a commodity standard. The studies in this volume were designed to gain a better understanding of the historical gold standard, but they also throw light on the question of whether restoring it today could help cure inflation, high interest rates, and low productivity growth. The volume includes a review of the literature on the classical gold standard; studies the experience with gold in England, Germany, Italy, Sweden, and Canada; and perspectives on international linkages and the stability of price-level trends under the gold standard. The articles and commentaries reflect strong, conflicting views among hte participants on issues of central bank behavior, purchasing-power an interest-rate parity, independent monetary policies, economic growth, the "Atlantic economy," and trends in commodity prices and long-term interest rates. This is a thoughtful and provocative book.
Download or read book Policy Coordination in the European Monetary System written by International Monetary Fund and published by International Monetary Fund. This book was released on 1988-09-15 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt: This chapter discusses various aspects of policy coordination in the European Monetary System (EMS). The purpose of the first paper in this chapter is to provide a survey of the process of European monetary integration, with focus on the EMS, its purposes, evolution, and the experience gathered since its establishment in early 1979. In its present stage of evolution, the EMS has developed a body of general institutional procedures to promote consistency among the policies and objectives of participating countries. The search for consistency inevitably gives rise to consequent constraints, such as those implicit in the specific rules on exchange rate and international reserve management that characterize the exchange rate mechanism (ERM). By drawing on an analysis of the role of monetary policy in balance of payments adjustment under different monetary systems and exchange rate arrangements, the second paper focuses on the crucial issues involved when an attempt is made to set rules for monetary policy coordination in a system of fixed but adjustable exchange rates such as the EMS.
Download or read book The Role of Money written by Andreas Beyer and published by . This book was released on 2008 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume presents several contributions from the 4th ECB central banking conferencefocusing on the practical experience concerning monetary policy in the 21st centuryof central banks and on lessons from history.
Download or read book Central Bank Independence Regulations and Monetary Policy written by Ranajoy Ray Chaudhuri and published by Springer. This book was released on 2018-10-29 with total page 406 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the linkage between central bank structure, central bank autonomy—with respect to setting its monetary policy goals, choosing its policy mechanisms, legal independence, and financial independence—and monetary policy, both in select benchmark countries and at a broader theoretical level. Country-specific chapters on the US, UK, Germany, Greece, Russia, India, China, Japan, Brazil, and South Africa focus on the history, administrative structure, and independence of the central monetary authority in these countries. The chapters go on to explore the countries’ conduct of monetary policy, their interplay with political forces and the wider economy, their currency, and their macroeconomic outcomes. The book will appeal to researchers, students of economics, finance and business, as well as general readers with an interest in the subject.
Download or read book The Case for Gold written by Ron Paul and published by Cato Institute. This book was released on 1982 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book A History of the Canadian Dollar written by James Powell and published by . This book was released on 2005 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Public Debt Through the Ages written by Mr.Barry J. Eichengreen and published by International Monetary Fund. This book was released on 2019-01-15 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: We consider public debt from a long-term historical perspective, showing how the purposes for which governments borrow have evolved over time. Periods when debt-to-GDP ratios rose explosively as a result of wars, depressions and financial crises also have a long history. Many of these episodes resulted in debt-management problems resolved through debasements and restructurings. Less widely appreciated are successful debt consolidation episodes, instances in which governments inheriting heavy debts ran primary surpluses for long periods in order to reduce those burdens to sustainable levels. We analyze the economic and political circumstances that made these successful debt consolidation episodes possible.
Download or read book A Retrospective on the Bretton Woods System written by Michael D. Bordo and published by University of Chicago Press. This book was released on 2007-12-01 with total page 692 pages. Available in PDF, EPUB and Kindle. Book excerpt: At the close of the Second World War, when industrialized nations faced serious trade and financial imbalances, delegates from forty-four countries met in Bretton Woods, New Hampshire, in order to reconstruct the international monetary system. In this volume, three generations of scholars and policy makers, some of whom participated in the 1944 conference, consider how the Bretton Woods System contributed to unprecedented economic stability and rapid growth for 25 years and discuss the problems that plagued the system and led to its eventual collapse in 1971. The contributors explore adjustment, liquidity, and transmission under the System; the way it affected developing countries; and the role of the International Monetary Fund in maintaining a stable rate. The authors examine the reasons for the System's success and eventual collapse, compare it to subsequent monetary regimes, such as the European Monetary System, and address the possibility of a new fixed exchange rate for today's world.
Download or read book Monetary Policy Coordination Within the EMS written by Massimo Russo and published by . This book was released on 1988 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The German Economy During the Nineteenth Century written by Toni Pierenkemper and published by Berghahn Books. This book was released on 2004-02-01 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the 19th Century, economic growth was accompanied by large-scale structural change, known as industrialization, which fundamentally affected western societies. Even though industrialization is on the wane in some advanced economies and we are experiencing substantial structural changes again, the causes and consequences of these changes are inextricably linked with earlier industrialization.This means that understanding 19th Century industrialization helps us understand problems of contemporary economic growth. There is no recent study on economic developments in 19th Century Germany. So this concise volume, written specifically with students of German and economic history in mind, will prove to be most valuable, not least because of its wealth of statistical data.
