EICHENGREEN GOLDEN FETTERS PDF

Here's a key quote:. These issues are hardly new. In the late s and early s, the U. Under the unwritten but long-standing rules of the gold standard, those two countries would have been expected to allow the inflows to feed through to domestic money supplies and prices, leading to real appreciations of their currencies and, with time, to a narrowing of their external surpluses. Instead, the two nations sterilized the effects of these capital inflows on their money supplies, so that their currencies remained persistently undervalued. Under the constraints imposed by the gold standard, these policies in turn increased deflationary pressures and banking-sector strains in deficit countries such as Germany, which were losing gold and foreign deposits.

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Barry J. This book offers a reassessment of the international monetary problems that led to the global economic crisis of the s. It explores the connections between the gold standard--the framework regulating international monetary affairs until and the Great Depression that broke out in Eichengreen shows how economic policies, in conjunction with the imbalances created by World War I, gave rise to the global crisis of the s.

He demonstrates that the gold standard fundamentally constrained the economic policies that were pursued and that it was largely responsible for creating the unstable economic environment on which those policies acted.

The book also provides a valuable perspective on the economic policies of the post-World War II period and their consequences. The Wartime Transition. Postwar Instability. The Legacy of Hyperinflation. Reconstructing the Facade. The Interwar Gold Standard in Operation. Cracks in the Facade. Tentative Adjustments. The Dollar and the World Economic Conference. Toward the Tripartite Agreement. Crisis and Opportunity. Kevin H.

He has written a number of books on international monetary issues and economic history, including Elusive Stability: Essays in the History of International Finance

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Golden Fetters: The Gold Standard and the Great Depression, 1919-1939

Barry J. This book offers a reassessment of the international monetary problems that led to the global economic crisis of the s. It explores the connections between the gold standard--the framework regulating international monetary affairs until and the Great Depression that broke out in Eichengreen shows how economic policies, in conjunction with the imbalances created by World War I, gave rise to the global crisis of the s. He demonstrates that the gold standard fundamentally constrained the economic policies that were pursued and that it was largely responsible for creating the unstable economic environment on which those policies acted. The book also provides a valuable perspective on the economic policies of the post-World War II period and their consequences.

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Golden Fetters : The Gold Standard and the Great Depression, 1919-1939

As a global organisation, we, like many others, recognize the significant threat posed by the coronavirus. During this time, we have made some of our learning resources freely accessible. Our distribution centres are open and orders can be placed online. Do be advised that shipments may be delayed due to extra safety precautions implemented at our centres and delays with local shipping carriers. Oxford Scholarship Online. Available in Oxford Scholarship Online - view abstracts and keywords at book and chapter level. This book is a reassessment of the international monetary crises of the post-World War I period that led to the Great Depression of the s.

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