Contents

pp vii-viii

List of figures

pp ix-xi

List of tables

pp xii-xiii

Notes on the contributors

pp xiv-xviii

I - Introduction

pp 1-2

1 - Modern perspectives on the gold standard: introduction

pp 3-16

2 - Unit roots, shocks and VARs and their place in history: an introductory guide

pp 17-52

II - Operation of the gold standard

pp 53-54

3 - The gold standard as a commitment mechanism

pp 55-100

4 - Market efficiency and regime efficiency under the 1925–1931 dollar/sterling gold standard

pp 101-128

5 - Credibility and fundamentals: were the Classical and interwar gold standards well-behaved target zones?

pp 129-162

III - Adjustment mechanisms

pp 163-164

6 - The stability of the gold standard and the evolution of the international monetary fund system

pp 165-188

7 - International adjustments under the Classical gold standard: evidence for the United States and Britain, 1879–1914

pp 189-217

8 - Balance of payments adjustment under the gold standard policies: Canada and Australia compared

pp 218-258

IV - Monetary issues

pp 259-260

9 - Money demand and supply under the gold standard: the United Kingdom, 1870–1914

pp 261-283

10 - Stability and forward-looking behavior: the demand for broad money in the United Kingdom, 1871–1913

pp 284-306

V - Exchange rate behavior

pp 307-308

11 - The dollar/pound real exchange rate and fiscal policy during the gold standard period

pp 309-340

12 - Exchange rate dynamics and monetary reforms: theory and evidence from Britain's return to gold

pp 341-362

VI - Conclusions

pp 363-364

13 - Déjà vu all over again: lessons from the gold standard for European monetary unification

pp 365-387

Index

pp 388-396