Questions tagged [gold-standard]

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Why does the gold standard require countries to keep exchange rates fixed?

The gold standard required countries to use monetary policy to keep exchange rates fixed and thus to allow prices, output, and employment to vary as required by the movements of gold and the country’s ...
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Can setting bank's reserve requirement ratio in 100% simulate gold standard?

Statement: If you want a gold standard, it's easier to set bank's reserve requirement to 100%. Context: This was a comment in a video telling how government actions influence monetary inflation. ...
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Understanding nominal and real prices from Wealth of Nations

Here is an excerpt from Wealth of Nations: Princes and sovereign states have frequently fancied that they had a temporary interest to diminish the quantity of pure metal contained in their ...
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55 views

Why was the price of gold lower when gold confiscation act was issued but raised afterwards?

I was reading up on the gold reserve act which made it illegal for US citizens to own gold with some minor exceptions. According to the gold confiscation act which was issued before the gold reserve ...
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63 views

Who is Jacob? And where did he say this?

In Karl Marx "Das Kapital", in Ch I.1 we find this quote "Jacob questions whether gold has ever been paid for at its full value." Is Jacob Vanderlint? Where in his book “Money Answers all ...
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747 views

Bretton Woods vs Gold Standard

I've been reading about the history of the IMF recently, and it strikes me as odd that despite the problems that arose with the gold standard (Germany in the 1920s, Fed cutting money supply during the ...
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Primary difference between FDR and Nixon for de-linking gold with dollar?

I'm unable to understand the different role that both FDR and Nixon, played in de-linking gold with dollar. I do understand that after Nixon, value of dollar is not linked to amount of gold (No ...
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64 views

Questions about the gold standard and exchange rates

So I'm a total economics noob and I'm trying to understand some of the consequences of using vs. not using a gold standard listed on Brad DeLong's blog here: https://www.bradford-delong.com/why-not-...
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Under the gold standard, how did the redemption of gold work in practice?

For example, in the US: In 1834, the United States fixed the price of gold at $20.67 per ounce, where it remained until 1933. (EconLib) Does this mean that anyone with US\$20.67 could walk up to ...