Lecture Eight: Pure Theory of the Gold Standard: Commodity Money in Classical Economics

M. L. Burstein
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M. L. Burstein: York University

Chapter 8 in Open-Economy Monetary Economics, 1989, pp 211-232 from Palgrave Macmillan

Abstract: Abstract The lecture is partly based on Burstein (1986, Chapters 4 and 11). Also see Barsky and Summers (1988), Friedman (1951/1953) and Friedman and Schwartz (1982, esp. Chapter 10). The specie-flow mechanism and other properties of adjustment under fixed exchange rates have been studied in Lecture Six.

Keywords: Interest Rate; Price Level; Money Supply; Purchasing Power; Rest Point (search for similar items in EconPapers)
Date: 1989
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-10963-0_8

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DOI: 10.1007/978-1-349-10963-0_8

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