Fetters of gold and paper
By: Barry Eichengreen, Peter Temin
Contributors: Temin, Peter; National Bureau of Economic Research
Series: NBER working paper series -- working paper 16202; Working paper series (National Bureau of Economic Research : Online) -- working paper no. 16202.
Publisher: National Bureau of Economic Research
Published: 2010
Place of publication: Cambridge, MA
Language: eng
Format: Electronic resource
Description: "We describe in this essay why the gold standard and the euro are extreme forms of fixed exchange rates, and how these policies had their most potent effects in the worst peaceful economic periods in modern times.  While we are lucky to have avoided another catastrophe like the Great Depression in 2008-9, mainly by virtue of policy makers' aggressive use of monetary and fiscal stimuli, the world economy still is experiencing many difficulties.  As in the Great Depression, this second round of problems stems from the prevalence of fixed exchange rates.  Fixed exchange rates facilitate business and communication in good times but intensify problems when times are bad"--National Bureau of Economic Research web site.
Notes: Title from PDF file as viewed on 8/19/2010.

Includes bibliographical references.

Also available in print.

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Mode of access: World Wide Web.