Title of article
Was theemergenceoftheinternationalgoldstandardexpected? Evidence fromIndianGovernmentsecurities
Author/Authors
Marc Flandreau، نويسنده ,
Issue Information
روزنامه با شماره پیاپی سال 2012
Pages
21
From page
649
To page
669
Abstract
The emergenceofthegoldstandardhasforalongtimebeenviewedasinevitable.
We analyzeagents’expectationsusingthespreadbetweengoldandsilverbondsissued
by theIndiangovernment.WefindthatbimetallismwascredibleuntilFrancesurprised
marketsbysuspendingdomesticoperationofbimetallism,triggeringarunawayfrom
silver.Thereafter,marketsbegandemandingapremiumtoholdsilverbonds,indicating
their beliefthatsilverwoulddepreciateinthefutureasmorecountriesmovedongold
Journal title
Journal of Monetary Economics
Serial Year
2012
Journal title
Journal of Monetary Economics
Record number
846549
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