Getting Pegged: Comparing the 1879 and 1925 Gold Resumptions

Tamim Bayoumi and Michael Bordo

Oxford Economic Papers, 1998, vol. 50, issue 1, 122-49

Abstract: The authors compare the resumption of convertibility into gold by the United States in 1879 and Britain in 1925 to ascertain the degree to which the outcomes reflected differences in strategies adopted by the authorities or in the external environment. They conclude that external factors were the most important determinant of the very different outcomes of the two episodes. Copyright 1998 by Royal Economic Society.

Date: 1998
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Working Paper: Getting Pegged: Comparing the 1879 and 1925 Gold Resumptions (1996)
Working Paper: Getting Pegged: Comparing the 1879 and 1925 Gold Resumptions (1996)
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