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Bimetallism

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  • Redish,Angela

Abstract

This book, first published in 2000, presents a history of Western monetary systems and explains why bimetallism was preferred to a gold standard before 1800. Professor Redish argues that the technological ability to issue fiduciary monies, and a commitment mechanism to prevent opportunistic governments changing the ratio between the currency and a unit of gold, were (frequently overlooked) prerequisites for the emergence of the Classical gold standard. The simplicity of the gold standard, a monetary system where there is a fixed ratio between a weight of gold and a unit of currency, makes it an obvious focus for discussion of commodity money systems, and for contrasting with today's fiat money regimes.

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Bibliographic Info

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This book is provided by Cambridge University Press in its series Cambridge Books with number 9780521028936 and published in 2006.

Order: http://www.cambridge.org/uk/catalogue/catalogue.asp?isbn=9780521028936
Handle: RePEc:cup:cbooks:9780521028936

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Web page: http://www.cambridge.org

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Cited by:
  1. Young Sik Kim & Manjong Lee, 2011. "Unit of Account, Medium of Exchange, and Prices," Discussion Paper Series 1104, Institute of Economic Research, Korea University.
  2. Marc Flandreau & Kim Oosterlinck, 2011. "Was the Emergence of the International Gold Standard Expected?Melodramatic Evidence from Indian Government Securities," Working Papers CEB 11-001, ULB -- Universite Libre de Bruxelles.
  3. Redish, Angela & Weber, Warren E., 2011. "Coin Sizes And Payments In Commodity Money Systems," Macroeconomic Dynamics, Cambridge University Press, vol. 15(S1), pages 62-82, April.
  4. repec:hal:cesptp:hal-00176083 is not listed on IDEAS
  5. Marie-Th\'er\`ese Boyer-Xambeu & Ghislain Deleplace & Patrice Gaubert & Lucien Gillard & Madalina Olteanu, 2007. "Mixing Kohonen Algorithm, Markov Switching Model and Detection of Multiple Change-Points: An Application to Monetary History," Papers 0710.0745, arXiv.org.
  6. Michael Bordo & Harold James, 2008. "A Long Term Perspective on the Euro," European Economy - Economic Papers 307, Directorate General Economic and Monetary Affairs (DG ECFIN), European Commission.
  7. Ali Coskun Tunçer, 2013. "The Black Swan of the Golden Periphery: The Ottoman Empire during the Classical Gold Standard Era," Working Papers 14, Department of Economic and Social History at the University of Cambridge.
  8. Angela Redish & Warren E. Weber, 2011. "A model of commodity money with minting and melting," Staff Report 460, Federal Reserve Bank of Minneapolis.
  9. Hugh Rockoff, 2010. "Parallel Journeys: Adam Smith and Milton Friedman on the Regulation of Banking," Departmental Working Papers 201004, Rutgers University, Department of Economics.

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