Readings in Money and Banking |
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Page 293
... countries on the pre - World War I gold standard , with the possible exception of Great Britain , there is evidence that interest rates were never allowed to rise enough to contract the domestic price level - in other words , that they ...
... countries on the pre - World War I gold standard , with the possible exception of Great Britain , there is evidence that interest rates were never allowed to rise enough to contract the domestic price level - in other words , that they ...
Page 294
... countries economized on the use of gold both in their domestic money supplies and as a means of settling international payments imbalances . In addition , to avoid the iron discipline of the gold standard , central banks in some countries ...
... countries economized on the use of gold both in their domestic money supplies and as a means of settling international payments imbalances . In addition , to avoid the iron discipline of the gold standard , central banks in some countries ...
Page 303
... countries . Finally , comparisons are made across periods in the average annual rate of monetary growth in row 6 , and in the variability in monetary growth ( measured by the coefficient of variation of percentage year- to - year ...
... countries . Finally , comparisons are made across periods in the average annual rate of monetary growth in row 6 , and in the variability in monetary growth ( measured by the coefficient of variation of percentage year- to - year ...
Contents
Why Bother? | 3 |
The Theory of Money | 12 |
The Evolution of | 23 |
Copyright | |
18 other sections not shown
Common terms and phrases
assets balance bank failures bank notes Bank of England bank's bankers banking crises banking panics banking system bonds borrow branch banking capital cash central bank changes charter circulation clearinghouse commercial banks commodity money costs countries crisis currency demand deposits deposit insurance depositors discount dollar economic economists effect excess demand exchange Federal Reserve Bank Federal Reserve System fractional-reserve banking free banking funds George Selgin gold standard growth rate History income increase inflation inside money institutions interest rates investment last resort lender of last liabilities loans losses ment Milton Friedman monetary authority monetary policy money supply national banks natural rate note issue noteholders operations payments percent period price level price of gold production profits purchasing power rate of interest real output real rate redeem regulation reserve requirements restrictions rise rule securities stability theory thrifts tion trade trend United value of money velocity wages wildcat banking York