The Worldwide Change in the Behavior of Interest Rates and Prices in 1914
dc.contributor.author | Barsky, Robert B. | en_US |
dc.contributor.author | Makiw, N. Gregory | en_US |
dc.contributor.author | Morin, Jeffrey A. | en_US |
dc.date.accessioned | 2013-11-14T23:22:18Z | |
dc.date.available | 2013-11-14T23:22:18Z | |
dc.date.issued | 1987-07 | en_US |
dc.identifier.other | MichU DeptE CenREST W87-37 | en_US |
dc.identifier.other | E420 | en_US |
dc.identifier.other | E520 | en_US |
dc.identifier.other | E430 | en_US |
dc.identifier.other | N220 | en_US |
dc.identifier.other | N240 | en_US |
dc.identifier.uri | https://hdl.handle.net/2027.42/100954 | |
dc.description.abstract | This 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.sponsorship | Center for Research on Economic and Social Theory, Department of Economics, University of Michigan | en_US |
dc.relation.ispartofseries | CREST Working Paper | en_US |
dc.subject | Federal Reserve | en_US |
dc.subject | Gold Standard | en_US |
dc.subject.other | Monetary Systems | en_US |
dc.subject.other | Standards | en_US |
dc.subject.other | Regimes | en_US |
dc.subject.other | Government and the Monetary System | en_US |
dc.subject.other | Payment Systems | en_US |
dc.subject.other | Monetary Policy | en_US |
dc.subject.other | Determination of Interest Rates | en_US |
dc.subject.other | Term Structure of Interest Rates | en_US |
dc.subject.other | Economic History: Financial Markets and Institutions: U.S. | en_US |
dc.subject.other | Canada: 1913- | en_US |
dc.subject.other | Economic History: Financial Markets and Institutions: Europe: 1913- | en_US |
dc.title | The Worldwide Change in the Behavior of Interest Rates and Prices in 1914 | en_US |
dc.type | Working Paper | en_US |
dc.subject.hlbsecondlevel | Economics | en_US |
dc.subject.hlbtoplevel | Social Sciences | en_US |
dc.description.bitstreamurl | http://deepblue.lib.umich.edu/bitstream/2027.42/100954/1/ECON039.pdf | |
dc.owningcollname | Economics, Department of - Working Papers Series |
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Economics, Department of - Working Papers Series
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