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|Other Titles: ||The 1931 Abandon Gold and the Nature of the Gold Standard|
|Authors: ||金井, 雄一|
|Issue Date: ||25-Mar-2003|
|Citation: ||経済科学. v.50, n.4, 2003, p.1-19|
|Abstract: ||The gold standard seems to have been understood incorrectly for a long time. This paper tries to make sure that the nature and the function of the gold standard described in economics textbooks are only a set of myths. For that purpose, it investigates the 1931 abandon gold in the United Kingdom, and suggests the following points. The linkage to gold had no effect to make pound sterling confidential currency, because sterling was sold enormously in 1931 even when it still had convertibility. And also the gold standard had no function to stabilize the exchange rate within gold points, because exchange operations were needed to maintain fixed rate (gold parity) even when the gold standard existed.|
|Appears in Collections:||経済科学 (The Economic Science)|
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