IDEAS home Printed from https://ideas.repec.org/a/bla/manch2/v59y1991i4p378-94.html
   My bibliography  Save this article

The Equilibrium Approach to Discretionary Monetary Policy under an International Gold Standard, 1926-1932

Author

Listed:
  • Sumner, Scott

Abstract

This paper uses the Collery-Barro equilibrium approach to the gold standard to develop a model of discretionary monetary policy under an international gold standard. Monetary policy is defined in terms of changes in the ratio of the monetary gold stock to the currency stock. This is equivalent to defining discretionary policy actions in terms of deviations from the "rules of the game." Unlike other policy indicators such as gold flows, interest rates, or monetary aggregates, the gold-reserve ratio can be used to generate a quantitative estimate of the impact of a single country's monetary policy on the world price level. Copyright 1991 by Blackwell Publishers Ltd and The Victoria University of Manchester

Suggested Citation

  • Sumner, Scott, 1991. "The Equilibrium Approach to Discretionary Monetary Policy under an International Gold Standard, 1926-1932," The Manchester School of Economic & Social Studies, University of Manchester, vol. 59(4), pages 378-394, December.
    • Handle: RePEc:bla:manch2:v:59:y:1991:i:4:p:378-94
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Citations

    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. France caused the Great Depression – who caused the Great Recession?
      by Lars Christensen in The Market Monetarist on 2011-10-04 00:28:00

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Scott Sumner, 2015. "What Would Milton Friedman Have Thought of the Great Recession?," American Journal of Economics and Sociology, Wiley Blackwell, vol. 74(2), pages 209-235, March.
    2. Karau, Sören, 2020. "Buried in the vaults of central banks: Monetary gold hoarding and the slide into the Great Depression," Discussion Papers 63/2020, Deutsche Bundesbank.
    3. Douglas A. Irwin, 2010. "Did France Cause the Great Depression?," NBER Working Papers 16350, National Bureau of Economic Research, Inc.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:manch2:v:59:y:1991:i:4:p:378-94. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: https://edirc.repec.org/data/semanuk.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.