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Author : François R. Velde
Publisher :
ISBN 13 :
Total Pages : 62 pages
Book Rating : 4.E/5 ( download)
Download or read book A Model of Bimetallism written by François R. Velde and published by . This book was released on 1998 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mr.S. E. Oppers
Publisher : International Monetary Fund
ISBN 13 : 1451856393
Total Pages : 30 pages
Book Rating : 4.4/5 (518 download)
Download or read book A Model of the Bimetallic System written by Mr.S. E. Oppers and published by International Monetary Fund. This book was released on 1995-12-01 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper formalizes Irving Fisher’s century-old model of bimetallism and adds the important “disequilibrium” dynamics to deal with the long periods during which bimetallic countries were on effective monometallic standards. It resolves a long standing puzzle in the bimetallic literature regarding the remarkable stability of the gold/silver price ratio in the nineteenth century by modeling the bimetallic mint ratio as a regulating barrier to the gold/silver price ratio. It thus provides a clean-cut example of a target-zone model that—in contrast to other such models in the literature—exhibits the main predicted nonlinearities in the data. This is a Paper on Policy Analysis and Assessment and the author(s) would welcome any comments on the present text. Citations should refer to a Paper on Policy Analysis and Assessment of the International Monetary Fund, mentioning the author(s) and the date of issuance. The views expressed are those of the author(s) and do not necessarily represent those of the Fund.
Author : Mr.Johannes Wiegand
Publisher : International Monetary Fund
ISBN 13 : 1498301223
Total Pages : 28 pages
Book Rating : 4.4/5 (983 download)
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.
Author : Michael Turner
Publisher : Cambridge University Press
ISBN 13 : 9780521890946
Total Pages : 336 pages
Book Rating : 4.8/5 (99 download)
Download or read book After the Famine written by Michael Turner and published by Cambridge University Press. This book was released on 2002-04-11 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: After the Famine examines the recovery in Irish agriculture in the wake of the disastrous potato famine of the 1840s, and presents an annual agricultural output series for Ireland from 1850 to 1914. Michael Turner's detailed 1996 study is in three parts: he analyses the changing structure of agriculture in terms of land use and peasant occupancy; he presents estimates of the annual value of Irish output between 1850 and 1914; and he assesses Irish agricultural performance in terms of several measures of productivity. These analyses are placed in the context of British and European agricultural development, and suggest that, contrary to prevailing orthodoxies, landlords rather than tenants were the main beneficiaries in the period leading up to the land reforms. After the Famine is an important contribution to an extremely controversial area of Irish social and economic history.
Author : Marc Flandreau
Publisher : Oxford University Press, USA
ISBN 13 : 0199257868
Total Pages : 344 pages
Book Rating : 4.1/5 (992 download)
Download or read book The Glitter of Gold written by Marc Flandreau and published by Oxford University Press, USA. This book was released on 2004-03-04 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book studies the so far unexplored operation of the international monetary system that prevailed before the emergence of the international gold standard in 1873. Conventional wisdom has it that the emergence of gold as a global anchor was both an inescapable and desirable evolution, given the exchange rate stability it provided and Britain's economic predominance.This study draws on a wealth of archival sources and abundant new statistical evidence (fully detailed in the appendix) to demonstrate that global exchange rate stability always prevailed before the making of the gold standard. This was despite the heterogeneity among national monetary regimes, based on gold, silver, or both.The reason for the stability before the establishment of the gold standard is France's bimetallic system. France, by being in a position to trade gold for silver, and vice versa, effectively pegged the exchange rate between gold and silver at its legal ratio of 15.5. Part I of the book studies exactly how this mechanism worked. Part II focuses on the respective behaviour of private concerns and arbitrageurs on the one hand, and authorities such as the Bank of France on the other hand, in orderto underline the constraints and opportunities that were associated with bimetallism as an international regime. Finally, Part III provides a new view on the collapse of bimetallism and its replacement by a gold standard. It is argued that bimetallism might well have survived, and that the emergenceof the gold standard was by no means inescapable. Rather, it resulted from a massive coordination failure at both national and international levels - a failure that was a preview of the interwar collapse of the gold standard.
Author :
Publisher : Springer
ISBN 13 : 1349588024
Total Pages : 7493 pages
Book Rating : 4.3/5 (495 download)
Download or read book The New Palgrave Dictionary of Economics written by and published by Springer. This book was released on 2016-05-18 with total page 7493 pages. Available in PDF, EPUB and Kindle. Book excerpt: The award-winning The New Palgrave Dictionary of Economics, 2nd edition is now available as a dynamic online resource. Consisting of over 1,900 articles written by leading figures in the field including Nobel prize winners, this is the definitive scholarly reference work for a new generation of economists. Regularly updated! This product is a subscription based product.
Author : Thomas J. Sargent
Publisher : Princeton University Press
ISBN 13 : 1400851629
Total Pages : 429 pages
Book Rating : 4.4/5 (8 download)
Download or read book The Big Problem of Small Change written by Thomas J. Sargent and published by Princeton University Press. This book was released on 2014-04-24 with total page 429 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Big Problem of Small Change offers the first credible and analytically sound explanation of how a problem that dogged monetary authorities for hundreds of years was finally solved. Two leading economists, Thomas Sargent and François Velde, examine the evolution of Western European economies through the lens of one of the classic problems of monetary history--the recurring scarcity and depreciation of small change. Through penetrating and clearly worded analysis, they tell the story of how monetary technologies, doctrines, and practices evolved from 1300 to 1850; of how the "standard formula" was devised to address an age-old dilemma without causing inflation. One big problem had long plagued commodity money (that is, money literally worth its weight in gold): governments were hard-pressed to provide a steady supply of small change because of its high costs of production. The ensuing shortages hampered trade and, paradoxically, resulted in inflation and depreciation of small change. After centuries of technological progress that limited counterfeiting, in the nineteenth century governments replaced the small change in use until then with fiat money (money not literally equal to the value claimed for it)--ensuring a secure flow of small change. But this was not all. By solving this problem, suggest Sargent and Velde, modern European states laid the intellectual and practical basis for the diverse forms of money that make the world go round today. This keenly argued, richly imaginative, and attractively illustrated study presents a comprehensive history and theory of small change. The authors skillfully convey the intuition that underlies their rigorous analysis. All those intrigued by monetary history will recognize this book for the standard that it is.
Author : Owen F. Humpage
Publisher : Cambridge University Press
ISBN 13 : 1107099099
Total Pages : 411 pages
Book Rating : 4.1/5 (7 download)
Download or read book Current Federal Reserve Policy Under the Lens of Economic History written by Owen F. Humpage and published by Cambridge University Press. This book was released on 2015-03-05 with total page 411 pages. Available in PDF, EPUB and Kindle. Book excerpt: A retrospective on the Federal Reserve, these essays by leading historians and economists investigate how financial infrastructure shapes economic outcomes.
Author : David Fox
Publisher : Oxford University Press
ISBN 13 : 0191059188
Total Pages : 1158 pages
Book Rating : 4.1/5 (91 download)
Download or read book Money in the Western Legal Tradition written by David Fox and published by Oxford University Press. This book was released on 2016-01-28 with total page 1158 pages. Available in PDF, EPUB and Kindle. Book excerpt: Monetary law is essential to the functioning of private transactions and international dealings by the state: nearly every legal transaction has a monetary aspect. Money in the Western Legal Tradition presents the first comprehensive analysis of Western monetary law, covering the civil law and Anglo-American common law legal systems from the High Middle Ages up to the middle of the 20th century. Weaving a detailed tapestry of the changing concepts of money and private transactions throughout the ages, the contributors investigate the special contribution made by legal scholars and practitioners to our understanding of money and the laws that govern it. Divided in five parts, the book begins with the coin currency of the Middle Ages, moving through the invention of nominalism in the early modern period to cashless payment and the rise of the banking system and paper money, then charting the progression to fiat money in the modern era. Each part commences with an overview of the monetary environment for the historical period written by an economic historian or numismatist. These are followed by chapters describing the legal doctrines of each period in civil and common law. Each section contains examples of contemporary litigation or statute law which engages with the distinctive issues affecting the monetary law of the period. This interdisciplinary approach reveals the distinctive conception of money prevalent in each period, which either facilitated or hampered the implementation of economic policy and the operation of private transactions.
Author : Claude Diebolt
Publisher : Springer Nature
ISBN 13 : 3031355830
Total Pages : 2796 pages
Book Rating : 4.0/5 (313 download)
Download or read book Handbook of Cliometrics written by Claude Diebolt and published by Springer Nature. This book was released on with total page 2796 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Sergio M. Focardi
Publisher : Routledge
ISBN 13 : 131539104X
Total Pages : 188 pages
Book Rating : 4.3/5 (153 download)
Download or read book Money written by Sergio M. Focardi and published by Routledge. This book was released on 2018-03-19 with total page 188 pages. Available in PDF, EPUB and Kindle. Book excerpt: By enabling the storage and transfer of purchasing power, money facilitates economic transactions and coordinates economic activity. But what is money? How is it generated? Distributed? How does money acquire value and that value change? How does money impact the economy, society? This book explores money as a system of "tokens" that represent the purchasing power of individual agents. It looks at how money developed from debt/credit relationships, barter and coins into a system of gold-backed currencies and bank credit and on to the present system of fiat money, bank credit, near-money and, more recently, digital currencies. The author successively examines how the money circuit has changed over the last 50 years, a period of stagnant wages, increased household borrowing and growing economic complexity, and argues for a new theory of economies as complex systems, coordinated by a banking and financial system. Money: What It Is, How It’s Created, Who Gets It and Why It Matters will be of interest to students of economics and finance theory and anyone wanting a more complete understanding of monetary theory, economics, money and banking.
Author : Donald W. Jones
Publisher : John Wiley & Sons
ISBN 13 : 1118627911
Total Pages : 905 pages
Book Rating : 4.1/5 (186 download)
Download or read book Economic Theory and the Ancient Mediterranean written by Donald W. Jones and published by John Wiley & Sons. This book was released on 2014-06-03 with total page 905 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic Theory and the Ancient Mediterranean presents a comprehensive introduction to the application of contemporary economic theory to the ancient societies of the Mediterranean Sea from the period of 5000 BCE to 400 CE. Offers an accessible presentation of modern economic theory and its relationships to ancient societies Presents innovative expositions and applications of economic theory to issues in antiquity not often found in the literature Features insightful discussions of the relevance of contemporary economic models to various situations in antiquity Written for a broad range of scholars of ancient Mediterranean regions, including archaeologists, ancient historians, and philologists
Author :
Publisher :
ISBN 13 :
Total Pages : 382 pages
Book Rating : 4.B/5 (1 download)
Download or read book The Bimetallist written by and published by . This book was released on 1896 with total page 382 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Alberto Bisin
Publisher : Academic Press
ISBN 13 : 0128162686
Total Pages : 1004 pages
Book Rating : 4.1/5 (281 download)
Download or read book The Handbook of Historical Economics written by Alberto Bisin and published by Academic Press. This book was released on 2021-04-21 with total page 1004 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Handbook of Historical Economics guides students and researchers through a quantitative economic history that uses fully up-to-date econometric methods. The book's coverage of statistics applied to the social sciences makes it invaluable to a broad readership. As new sources and applications of data in every economic field are enabling economists to ask and answer new fundamental questions, this book presents an up-to-date reference on the topics at hand. - Provides an historical outline of the two cliometric revolutions, highlighting the similarities and the differences between the two - Surveys the issues and principal results of the "second cliometric revolution" - Explores innovations in formulating hypotheses and statistical testing, relating them to wider trends in data-driven, empirical economics
Author :
Publisher : BRILL
ISBN 13 : 9004383093
Total Pages : 374 pages
Book Rating : 4.0/5 (43 download)
Download or read book Money and Coinage in the Middle Ages written by and published by BRILL. This book was released on 2019-02-11 with total page 374 pages. Available in PDF, EPUB and Kindle. Book excerpt: Reading Medieval Sources is an exciting new series which leads scholars and students into some of the most challenging and rewarding sources from the European Middle Ages, and introduces the most important approaches to understanding them. Written by an international team of twelve leading scholars, this volume Money and Coinage in the Middle Ages presents a set of fresh and insightful perspectives that demonstrate the rich potential of this source material to all scholars of medieval history and culture. It includes coverage of major developments in monetary history, set into their economic and political context, as well as innovative and interdisciplinary perspectives that address money and coinage in relation to archaeology, anthropology and medieval literature. Contributors are Nanouschka Myrberg Burström, Elizabeth Edwards, Gaspar Feliu, Anna Gannon, Richard Kelleher, Bill Maurer, Nick Mayhew, Rory Naismith, Philipp Robinson Rössner, Alessia Rovelli, Lucia Travaini, and Andrew Woods.
Author : Mary S. Morgan
Publisher : Cambridge University Press
ISBN 13 : 9780521655712
Total Pages : 420 pages
Book Rating : 4.6/5 (557 download)
Download or read book Models as Mediators written by Mary S. Morgan and published by Cambridge University Press. This book was released on 1999-10-21 with total page 420 pages. Available in PDF, EPUB and Kindle. Book excerpt: Edited collection examining the ways in which models are used in modern science.
Author : Giovanni Battista Pittaluga
Publisher : Springer Nature
ISBN 13 : 3030784916
Total Pages : 274 pages
Book Rating : 4.0/5 (37 download)
Download or read book Building Trust in the International Monetary System written by Giovanni Battista Pittaluga and published by Springer Nature. This book was released on 2021-07-15 with total page 274 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents the evolution of the international monetary system from the gold standard to the monetary system in force today. It adopts a political economy approach, emphasizing the economic and political conditions under which an international monetary system can come into existence and be maintained over time. This approach highlights how the gradual transition in the international context from commodity money to fiat money has been led by the need for greater elasticity of money supply and smooth adjustments. This transition, however, raises the issue of how to guarantee, over time, the value of a money devoid of intrinsic value. By presenting a historical evolution, the book explains how the existence of an international monetary system based on money without intrinsic value can only occur when a particular balance of power exists at the international level that allows for the production of trust in a fiat money. The book is a must-read for scholars, researchers, and students in the fields of economic history and international monetary economics, interested in better understanding the evolution of the international monetary system.
