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Pictures Of A Revolution Analyzing The Transition From Global Bimetallism To The Gold Standard In The 1860s And 1870s
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Book Synopsis Pictures of a Revolution: Analyzing the Transition from Global Bimetallism to the Gold Standard in the 1860s and 1870s by : Mr. Johannes Wiegand
Download or read book Pictures of a Revolution: Analyzing the Transition from Global Bimetallism to the Gold Standard in the 1860s and 1870s written by Mr. Johannes Wiegand and published by International Monetary Fund. This book was released on 2022-06-17 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the early 1870s, the global monetary system transitioned from bimetallism—a regime in which gold and silver currencies were tied at quasi-fixed exhange ratios—to the gold standard that was characterized by the use of (only) gold as the main currency metal by the largest and most advanced economies. The transition ocurred against the backdrop of both large supply shifts in global bullion markets in the 1850s and 60s and momentous political events, such as the Franco-Prussian war of 1870/71 and the subsequent foundation of the German empire. The causes for the transition have long been a matter of intense debate. This article discusses three separate but interrelated issues: (i) assessing the robustness of the pre-1870 bimetallic system to shocks—which includes a discussion of the appropriate use of Flandreau’s (1996) reference model; (ii) analyzing the transition from bimetallism to gold as a multi-stage currency game played by France and Germany; and (iii) evaluating the monetary debates at the German Handelstag conferences in the 1860s, to present a more complete narrative of the German discussion in the run-up to the transition.
Book Synopsis Central Banks and Monetary Policies by : Felix Lessambo
Download or read book Central Banks and Monetary Policies written by Felix Lessambo and published by Ethics International Press. This book was released on 2024-05-14 with total page 297 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a uniquely comprehensive and detailed analysis of central banks within the G-20. It discusses their policies and functions in detail. Central banks use monetary policy to manage economic fluctuations and achieve price stability. Monetary policy is the control of the quantity of money available in an economy and the channels by which new money is supplied. Monetary policy is implemented either (i) through interest rate policy, whereby the central bank influences financial conditions by setting, or closely controlling, a short-term rate and by steering expectations about the interest rate forward, or (ii) through balance sheet policy, whereby the central bank influences financial conditions beyond the short-term rate by adjusting its balance sheet. Inflation targeting has emerged as the leading framework for monetary policy. Since the 1990s, the role of the interest rate has increased, and many countries are using inflation targeting to achieve the aims of their monetary policy. Central banks around the globe, and within the G-20, have introduced explicit inflation targets. Though a central bank cannot directly control inflation, or the factors that determine inflation, it does have the tools needed to directly affect a group of nominal variables, that in turn have an impact on the determinants of inflation. Moreover, most major central banks have adopted unconventional monetary policies to stabilize financial conditions, boost economic activity, and maintain price stability. Last but not least, financial and monetary policies have become increasingly international, involving trade-offs between domestic and foreign interests. The response to cross-border financial crises requires the close cooperation of multiple jurisdictions. The book is a key reference text for researchers, teachers and students in banking, economic policy, and government worldwide.
Book Synopsis Handbook of Cliometrics by : Claude Diebolt
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:
Book Synopsis Destabilizing the Global Monetary System: Germany’s Adoption of the Gold Standard in the Early 1870s by : Mr.Johannes Wiegand
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.
Book Synopsis Development Centre Studies The Making of Global Finance 1880-1913 by : Flandreau Marc
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.
Book Synopsis Capital in the Twenty-First Century by : Thomas Piketty
Download or read book Capital in the Twenty-First Century written by Thomas Piketty and published by Harvard University Press. This book was released on 2017-08-14 with total page 817 pages. Available in PDF, EPUB and Kindle. Book excerpt: What are the grand dynamics that drive the accumulation and distribution of capital? Questions about the long-term evolution of inequality, the concentration of wealth, and the prospects for economic growth lie at the heart of political economy. But satisfactory answers have been hard to find for lack of adequate data and clear guiding theories. In this work the author analyzes a unique collection of data from twenty countries, ranging as far back as the eighteenth century, to uncover key economic and social patterns. His findings transform debate and set the agenda for the next generation of thought about wealth and inequality. He shows that modern economic growth and the diffusion of knowledge have allowed us to avoid inequalities on the apocalyptic scale predicted by Karl Marx. But we have not modified the deep structures of capital and inequality as much as we thought in the optimistic decades following World War II. The main driver of inequality--the tendency of returns on capital to exceed the rate of economic growth--today threatens to generate extreme inequalities that stir discontent and undermine democratic values if political action is not taken. But economic trends are not acts of God. Political action has curbed dangerous inequalities in the past, the author says, and may do so again. This original work reorients our understanding of economic history and confronts us with sobering lessons for today.
Book Synopsis Global Business Regulation by : John Braithwaite
Download or read book Global Business Regulation written by John Braithwaite and published by Cambridge University Press. This book was released on 2000-02-13 with total page 194 pages. Available in PDF, EPUB and Kindle. Book excerpt: How has the regulation of business shifted from national to global institutions? What are the mechanisms of globalization? Who are the key actors? What of democratic sovereignty? In which cases has globalization been successfully resisted? These questions are confronted across an amazing sweep of the critical areas of business regulation--from contract, intellectual property and corporations law, to trade, telecommunications, labor standards, drugs, food, transport and environment. This book examines the role played by global institutions such as the World Trade Organization, World Health Organization, the OECD, IMF, Moodys and the World Bank, as well as various NGOs and significant individuals. Incorporating both history and analysis, Global Business Regulation will become the standard reference for readers in business, law, politics, and international relations.
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 341 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Origins and Development of Financial Markets and Institutions by : Jeremy Atack
Download or read book The Origins and Development of Financial Markets and Institutions written by Jeremy Atack and published by Cambridge University Press. This book was released on 2009-03-16 with total page 497 pages. Available in PDF, EPUB and Kindle. Book excerpt: Collectively, mankind has never had it so good despite periodic economic crises of which the current sub-prime crisis is merely the latest example. Much of this success is attributable to the increasing efficiency of the world's financial institutions as finance has proved to be one of the most important causal factors in economic performance. In a series of insightful essays, financial and economic historians examine how financial innovations from the seventeenth century to the present have continually challenged established institutional arrangements, forcing change and adaptation by governments, financial intermediaries, and financial markets. Where these have been successful, wealth creation and growth have followed. When they failed, growth slowed and sometimes economic decline has followed. These essays illustrate the difficulties of co-ordinating financial innovations in order to sustain their benefits for the wider economy, a theme that will be of interest to policy makers as well as economic historians.
Download or read book U.S. History written by P. Scott Corbett and published by . This book was released on 2024-09-10 with total page 1886 pages. Available in PDF, EPUB and Kindle. Book excerpt: U.S. History is designed to meet the scope and sequence requirements of most introductory courses. The text provides a balanced approach to U.S. history, considering the people, events, and ideas that have shaped the United States from both the top down (politics, economics, diplomacy) and bottom up (eyewitness accounts, lived experience). U.S. History covers key forces that form the American experience, with particular attention to issues of race, class, and gender.
Book Synopsis Implementing AML/CFT Measures in the Precious Minerals Sector by : Mr.Emmanuel Mathias
Download or read book Implementing AML/CFT Measures in the Precious Minerals Sector written by Mr.Emmanuel Mathias and published by International Monetary Fund. This book was released on 2014-11-07 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: The trade in precious metals and stones has been linked to illicit financial flows, corruption, smuggling, drug trafficking, illicit arms trafficking, and the financing of terrorism. In addition, the extraction of precious minerals and the subsequent trade in these resources, if properly managed, present significant revenue opportunities, particularly for countries facing development needs. Building on staff expertise in anti-money laundering and combating the financing of terrorism (AML/CFT) and technical support and analytical advice on the management of natural resources, this note is a reference guide to aid countries in using the AML/CFT framework to help combat crime related to and affecting the precious minerals sector while raising revenue.
Book Synopsis Guide to U.S. Elections by : Deborah Kalb
Download or read book Guide to U.S. Elections written by Deborah Kalb and published by CQ Press. This book was released on 2015-12-24 with total page 2189 pages. Available in PDF, EPUB and Kindle. Book excerpt: The CQ Press Guide to U.S. Elections is a comprehensive, two-volume reference providing information on the U.S. electoral process, in-depth analysis on specific political eras and issues, and everything in between. Thoroughly revised and infused with new data, analysis, and discussion of issues relating to elections through 2014, the Guide will include chapters on: Analysis of the campaigns for presidency, from the primaries through the general election Data on the candidates, winners/losers, and election returns Details on congressional and gubernatorial contests supplemented with vast historical data. Key Features include: Tables, boxes and figures interspersed throughout each chapter Data on campaigns, election methods, and results Complete lists of House and Senate leaders Links to election-related websites A guide to party abbreviations
Book Synopsis Learning Empire by : Erik Grimmer-Solem
Download or read book Learning Empire written by Erik Grimmer-Solem and published by Cambridge University Press. This book was released on 2019-09-26 with total page 669 pages. Available in PDF, EPUB and Kindle. Book excerpt: The First World War marked the end point of a process of German globalization that began in the 1870s. Learning Empire looks at German worldwide entanglements to recast how we interpret German imperialism, the origins of the First World War, and the rise of Nazism.
Book Synopsis Invisible Geniuses: Could the Knowledge Frontier Advance Faster? by : Ruchir Agarwal
Download or read book Invisible Geniuses: Could the Knowledge Frontier Advance Faster? written by Ruchir Agarwal and published by International Monetary Fund. This book was released on 2018-12-07 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: The advancement of the knowledge frontier is crucial for technological innovation and human progress. Using novel data from the setting of mathematics, this paper establishes two results. First, we document that individuals who demonstrate exceptional talent in their teenage years have an irreplaceable ability to create new ideas over their lifetime, suggesting that talent is a central ingredient in the production of knowledge. Second, such talented individuals born in low- or middle-income countries are systematically less likely to become knowledge producers. Our findings suggest that policies to encourage exceptionally-talented youth to pursue scientific careers—especially those from lower income countries—could accelerate the advancement of the knowledge frontier.
Book Synopsis Mystery of Banking, The by : Murray Newton Rothbard
Download or read book Mystery of Banking, The written by Murray Newton Rothbard and published by Ludwig von Mises Institute. This book was released on 2008 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Eclipse: Living in the Shadow of China's Economic Dominance by : Arvind Subramanian
Download or read book Eclipse: Living in the Shadow of China's Economic Dominance written by Arvind Subramanian and published by Peterson Institute. This book was released on 2011 with total page 253 pages. Available in PDF, EPUB and Kindle. Book excerpt: By most accounts, China has quickly grown into the second largest economy in the world. In this controversial new book, Subramanian argues that China has already become the most economically dominant country in the world in terms of wealth, trade and finance. Its dominance and eclipsing of US global economic power is more imminent, more broad-based and larger in magnitude than anyone has anticipated. Subramanian compares the economic dominance of China with that of the two previous economic superpowers--the United States and the United Kingdom--and highlights similarities and differences. One corollary is that the fundamentals are strong for the Chinese currency to replace the dollar as the world's reserve currency. The final chapter forecasts how the international economic system is likely to evolve as a result of Chinese dominance.
Book Synopsis The Theory of Political Economy by : William Stanley Jevons
Download or read book The Theory of Political Economy written by William Stanley Jevons and published by New York, A.M. Kelley. This book was released on 1965 with total page 424 pages. Available in PDF, EPUB and Kindle. Book excerpt:
