International Reserves Crises, Monetary Integration and the Payments System during the International Gold Standard
Subject: International Gold Standard, International payments systems, International reserve crises, Monetary integration
jel: jel:E32 | jel:E42 | jel:E58 | jel:F33
I model an international payments system with a financial center and periphery to reproduce various aspects of the International Gold Standard. This period was characterized by frequent crises associated with scarce stocks of reserves, high short-term interest rates wit... View more
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