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Getting Pegged: Comparing the 1879 and 1925 Gold Resumptions

Michael Bordo () and Tamim Bayoumi

No 5497, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: We 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. It is concluded that external factors were the most important determinant of the very different outcomes of the two episodes.

JEL-codes: F31 E42 (search for similar items in EconPapers)
Date: 1996-03
Note: DAE IFM ME
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Published as Oxford Economic Papers, No. 50, pp. 122-149, January 1998

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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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