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The Gold Standard and the Great Depression Author info | Abstract | Publisher info | Download info | Related research | Statistics Barry Eichengreen
Peter Temin
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This paper, written primarily for historians, attempts to explain why political leaders and central bankers continued to adhere to the gold standard as the Great Depression intensified. We do not focus on the effects of the gold standard on the Depression, which we and others have documented elsewhere, but on the reasons why policy makers chose the policies they did. We argue that the mentality of the gold standard was pervasive and compelling to the leaders of the interwar economy. It was expressed and reinforced by the discourse among these leaders. It was opposed and finally defeated by mass politics, but only after the interaction of national policies had drawn the world into the Great Depression.
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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number
6060.
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Date of creation: Jun 1997Date of revision:
Handle: RePEc:nbr:nberwo:6060Note: DAE MEContact details of provider: Postal: National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A. Phone: 617-868-3900 Email: Web page: http://www.nber.org More information through EDIRC
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References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.: Hugh Rockoff & Michael D. Bordo, 1996.
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