Journal Article
Following the yellow brick road: how the United States adopted the gold standard
Abstract: The United States, with some difficulty, adopted the gold standard in the late nineteenth century, thus pegging the dollar to the pound sterling and other currencies. Some have argued it was mistake, others that it was inevitable. This article recounts the historical background and uses a model to shed light on the choices faced by policymakers of the time.
Keywords: Bimetallism; Gold; Money;
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Bibliographic Information
Provider: Federal Reserve Bank of Chicago
Part of Series: Economic Perspectives
Publication Date: 2002
Volume: 26
Issue: Q II
Pages: 42-58