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The Worldwide Change in the Behavior of Interest Rates and Prices in 1914
dc.contributor.authorBarsky, Robert B.en_US
dc.contributor.authorMakiw, N. Gregoryen_US
dc.contributor.authorMorin, Jeffrey A.en_US
dc.date.accessioned2013-11-14T23:22:18Z
dc.date.available2013-11-14T23:22:18Z
dc.date.issued1987-07en_US
dc.identifier.otherMichU DeptE CenREST W87-37en_US
dc.identifier.otherE420en_US
dc.identifier.otherE520en_US
dc.identifier.otherE430en_US
dc.identifier.otherN220en_US
dc.identifier.otherN240en_US
dc.identifier.urihttps://hdl.handle.net/2027.42/100954
dc.description.abstractThis paper evaluates the role of the destruction of the gold standard and the founding of the Federal Reserve, both of which occurred in 1914, in contributing to observed changes in the behavior of interest rates and prices after 1914. The paper presents a model of policy coordination in which the introduction of the Fed stabilizes interest rates, even if the gold standard remains intact, and it offers empirical evidence that the dismantling of the gold standard did not play a crucial role in precipitating the changes in interest rate behavior.en_US
dc.description.sponsorshipCenter for Research on Economic and Social Theory, Department of Economics, University of Michiganen_US
dc.relation.ispartofseriesCREST Working Paperen_US
dc.subjectFederal Reserveen_US
dc.subjectGold Standarden_US
dc.subject.otherMonetary Systemsen_US
dc.subject.otherStandardsen_US
dc.subject.otherRegimesen_US
dc.subject.otherGovernment and the Monetary Systemen_US
dc.subject.otherPayment Systemsen_US
dc.subject.otherMonetary Policyen_US
dc.subject.otherDetermination of Interest Ratesen_US
dc.subject.otherTerm Structure of Interest Ratesen_US
dc.subject.otherEconomic History: Financial Markets and Institutions: U.S.en_US
dc.subject.otherCanada: 1913-en_US
dc.subject.otherEconomic History: Financial Markets and Institutions: Europe: 1913-en_US
dc.titleThe Worldwide Change in the Behavior of Interest Rates and Prices in 1914en_US
dc.typeWorking Paperen_US
dc.subject.hlbsecondlevelEconomicsen_US
dc.subject.hlbtoplevelSocial Sciencesen_US
dc.description.bitstreamurlhttp://deepblue.lib.umich.edu/bitstream/2027.42/100954/1/ECON039.pdf
dc.owningcollnameEconomics, Department of - Working Papers Series


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