Title of article :
Was theemergenceoftheinternationalgoldstandardexpected?
Evidence fromIndianGovernmentsecurities
Author/Authors :
Marc Flandreau، نويسنده ,
Issue Information :
روزنامه با شماره پیاپی سال 2012
Abstract :
The emergenceofthegoldstandardhasforalongtimebeenviewedasinevitable.
We analyzeagents’expectationsusingthespreadbetweengoldandsilverbondsissued
by theIndiangovernment.WefindthatbimetallismwascredibleuntilFrancesurprised
marketsbysuspendingdomesticoperationofbimetallism,triggeringarunawayfrom
silver.Thereafter,marketsbegandemandingapremiumtoholdsilverbonds,indicating
their beliefthatsilverwoulddepreciateinthefutureasmorecountriesmovedongold
Journal title :
Journal of Monetary Economics
Journal title :
Journal of Monetary Economics
