How the Gold Standard Functioned in Portugal: An Analysis of Some Macroeconomic Aspects
António Portugal Duarte and
João Andrade
Post-Print from HAL
Abstract:
Portugal was the first country in Europe to join Great Britain in the Gold Standard, in 1854, having abandoned the principle of free gold convertibility in 1891. By elucidating the historical choice of the Gold Standard by the Portuguese authorities, and analysing its macroeconomic behaviour, we prove that it is a mistake to compare different monetary systems with the same indicators. Our examination of demand, supply and monetary shocks in the context of a VAR model confirm the idea of appropriate application of the principles of classical economics to the Gold Standard in Portugal. We also prove that the principles of demand management were not compatible with the functioning of the Gold Standard.
Keywords: Social; Sciences; &; Humanities (search for similar items in EconPapers)
Date: 2011-02-02
Note: View the original document on HAL open archive server: https://hal.science/hal-00665454v1
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)
Published in Applied Economics, 2011, pp.1. ⟨10.1080/00036846.2010.513675⟩
Downloads: (external link)
https://hal.science/hal-00665454v1/document (application/pdf)
Related works:
Journal Article: How the Gold Standard functioned in Portugal: an analysis of some macroeconomic aspects (2012) 
Working Paper: How the gold standard functioned in Portugal: an analysis of some macroeconomic aspects (2005) 
Working Paper: How the Gold Standard Functioned in Portugal: An Analysis of Some Macroeconomic Aspects (2004) 
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-00665454
DOI: 10.1080/00036846.2010.513675
Access Statistics for this paper
More papers in Post-Print from HAL
Bibliographic data for series maintained by CCSD ().