Great DepressionSummary This chapter provides an informed and insightful analysis of the transition from a gold standard to what is now called the dollar standard. Until 1971, a gold exchange standard survived at the core of the International Monetary Fund and the international monetary system. ...
From 1871 to 1914, the gold standard was at its pinnacle. During this period, near-ideal political conditions existed among most countries—including Australia, Canada, New Zealand, and India—that instituted the gold standard. However, this all changed with the outbreak of the Great War in 191...
Roosevelt discarded the gold standard in response to its devaluation during the Great Depression and in an effort to boost economic activity. The gold standard was then readopted after World War II when the Bretton Woods Agreement again tied the U.S. dollar to the value of gold. However, ...
The Gold Standard, Deflation, and Financial Crisis in the Great Depression: An International Comparison Bernanke, Ben and Harold James (1991), "The Gold Standard, Deflation, and Financial Crisis in the Great Depression: An International Comparison," in R... B Bernanke,H James - 《Nber Working...
Of course, the Great Depression is a global crisis. It was a global crisis, because, under the (newly restored) gold standard, the price level in gold-standard countries was determined internationally. And, holding 40% of the world’s monetary reserves of gold at the end of World War I,...
Before concluding I want to clear up two misconceptions about the Gold Standard. The first misconception relates to the idea that the gold standard somehow caused or exacerbated the Great Depression. This simply isnottrue. What caused and exacerbated the Great Depression, from the Panic of 1930 ...
of gold limits the scope for expanding central bank liabilities. Thus, had the Fed been on a strict gold standard in the fall of 2008—when Lehman failed—the constraint on its ability to lend could again have led to a collapse of the financial system and a second Great Depression. ...
Golden Fetters: The Gold Standard and the Great Depression 1919–1939 doi:10.1017/S0968565000001633Financial History ReviewBurk, Kathleen
Gold standard, monetary system in which the standard unit of currency is a fixed quantity of gold or is kept at the value of a fixed quantity of gold. The currency is freely convertible at home or abroad into a fixed amount of gold per unit of currency.
Many economists contend that the gold standard played a role in preventing the United States from stabilizing the economy after the stock market crash of 1929 and prolonged the Great Depression. In 1933, when the United States went off the full domestic gold standard, the economy began to ...