Irving Fisher on the International Transmission of Booms and Depressions through Monetary Standards
The role of monetary standards in the international transmission of economic fluctuations, particularly the role of the gold standard in the Depression, has attracted considerable recent attention, for instance from Choudhri and Kochin (1980), Hamilton (1988), Temin (1989, 1993), Eichengreen (1992), and Bernanke (1995). However, this literature has overlooked a pioneering precursor: Irving Fisher, "Are Booms and Depressions Transmitted Internationally Through Monetary Standards?" (1935), which has also been neglected in the literature on Fisher. I examine Fisher's contribution in the context of later research on the topic and explore the place of Fisher (1935) in Fisher's work.
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Volume (Year): 35 (2003)
Issue (Month): 1 (February)
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