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Getting Pegged: Comparing the 1879 and 1925 Gold Resumptions

Tamim Bayoumi and Michael Bordo ()

No 1390, CEPR Discussion Papers from C.E.P.R. Discussion Papers

Abstract: We compare the resumption of convertibility into gold by the United States in 1879 and the United Kingdom in 1925 to ascertain the degree to which the outcomes reflect differences in strategies adopted by the authorities or in the external environment. It is concluded that external factors were the most important determinant of the very different outcomes of the two episodes.

Keywords: Exchange Rate Pegs; Gold Standard (search for similar items in EconPapers)
JEL-codes: F31 F33 F36 (search for similar items in EconPapers)
Date: 1996-04
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Related works:
Journal Article: Getting Pegged: Comparing the 1879 and 1925 Gold Resumptions (1998)
Working Paper: Getting Pegged: Comparing the 1879 and 1925 Gold Resumptions (1996) Downloads
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