Please briefly describe what is meant by a gold exchange standard.

Chako

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8 years ago

Please briefly describe what is meant by a gold exchange standard.

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International Economics: Theory and Policy

Edition: 10^th

Author: Krugman

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machukian

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8 years ago

Under a gold exchange standard, central banks' reserves consist of gold and currencies whose price in terms of gold are fixed, and each central bank fixes its exchange rate to a currency with a fixed gold price. The post-WWII currency system was supposed to be a gold exchange standard with the U.S. responsible for fixing the price of gold at $35 per ounce.

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Chako Author

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8 years ago

Makes a lot of sense, and you're right.. I appreciate the input

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machukian

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7 years ago

Thanks for the feedback, I'm sure others will appreciate it too

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