IDEAS home Printed from
   My bibliography  Save this article

International Trade Under Depreciated Paper. A Contribution to Theory


  • F. W. Taussig


I. An assumed case of large foreign borrowing by a paper money country, 381. — Consequences on the rates of foreign exchange, 382. — A digression: present conditions in Germany and Europe abnormal, and little pertinent to this discussion, 384. — Effects under ordinary conditions on the prices of exported and imported goods, 386. — A transition stage; is there a bounty on exports? 388. — II. Ultimate effects, as they would be if both countries were on the gold basis, 391. — In what way, in such case, international lending may lead directly to increased exports of merchandise, 392. — But increased exports are usually the indirect consequence of gold movements, 394. — Resulting changes in relative wages and prices, 395. — No such mechanism, however, in case of depreciated paper, 396. — An analogous result, yet a different one, through the movement of goods, 397. — III. Difficulty of verifying this analysis through inductive inquiry, 400. — Partial verification of a confirmatory character not impossible, 402.

Suggested Citation

  • F. W. Taussig, 1917. "International Trade Under Depreciated Paper. A Contribution to Theory," The Quarterly Journal of Economics, Oxford University Press, vol. 31(3), pages 380-403.
  • Handle: RePEc:oup:qjecon:v:31:y:1917:i:3:p:380-403.

    Download full text from publisher

    File URL:
    Download Restriction: Access to full text is restricted to subscribers.

    As the access to this document is restricted, you may want to search for a different version of it.


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

    Cited by:

    1. Phillip Edmund Metaxas & Ernst Juerg Weber, 2016. "An Australian Contribution to International Trade Theory: The Dependent Economy Model," The Economic Record, The Economic Society of Australia, vol. 92(298), pages 464-497, September.
    2. repec:dau:papers:123456789/10195 is not listed on IDEAS
    3. Andrés Felipe Arias & Hernando Zuleta, 1997. "Tasa de Cambio Real e Inversión. La Experiencia de 1990-1996," BORRADORES DE ECONOMIA 003537, BANCO DE LA REPÚBLICA.
    4. Brock, Philip L & Turnovsky, Stephen J, 1994. "The Dependent-Economy Model with Both Traded and Nontraded Capital Goods," Review of International Economics, Wiley Blackwell, vol. 2(3), pages 306-325, October.
    5. Ivo Maes, 2012. "On the origins of the Triffin dilemma: Empirical business cycle analysis and imperfect competition theory," Working Paper Research 240, National Bank of Belgium.

    More about this item


    Access and download statistics


    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:oup:qjecon:v:31:y:1917:i:3:p:380-403.. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Oxford University Press) or (Christopher F. Baum). General contact details of provider: .

    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 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.

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

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.