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The Bullionist Controversy: An Empirical Reappraisal

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  • Nachane, D M
  • Hatekar, N R

Abstract

The Restriction Act of 1797 in England gave rise to the Bullionist debates, which had profound consequences for the evolution of monetary economics. The aim of this paper is to attempt to shed empirical light on the several doctrinal positions characterizing the debates, invoking the modern techniques of cointegration, exogeneity, and causality-testing. The upshot of the authors' exercise is the vindication of a moderate anti-Bullionist position advocated by T. Tooke and a strong rejection of traditional Bullionist views associated with D. Ricardo and J. Wheatley. Copyright 1995 by Blackwell Publishers Ltd and The Victoria University of Manchester

Suggested Citation

  • Nachane, D M & Hatekar, N R, 1995. "The Bullionist Controversy: An Empirical Reappraisal," The Manchester School of Economic & Social Studies, University of Manchester, vol. 63(4), pages 412-425, December.
  • Handle: RePEc:bla:manch2:v:63:y:1995:i:4:p:412-25
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    Cited by:

    1. Nils Herger, 2017. "An empirical assessment of the Swedish Bullionist Controversy," Working Papers 17.01, Swiss National Bank, Study Center Gerzensee.
    2. Hendrickson, Joshua, 2015. "The Bullionist Controversy: Theory and New Evidence," MPRA Paper 83741, University Library of Munich, Germany, revised Feb 2017.

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