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The supply of gold under the pre‐1914 gold standard 1
Author(s) -
EICHENGREEN BARRY,
McLEAN IAN W.
Publication year - 1994
Publication title -
the economic history review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.014
H-Index - 49
eISSN - 1468-0289
pISSN - 0013-0117
DOI - 10.1111/j.1468-0289.1994.tb01377.x
Subject(s) - gold standard (test) , economics , mathematics , statistics
In this paper we attempt to relate the discussion of the discovery and production of gold which appears in the literature on international monetary economics to that found in writings on economic development in the regions of recent settlement. An examination of both national and regional evidence, with emphasis on U.S. experience in the late nineteenth century, suggests that the influence of real gold prices on production is not dominant, and that other economic conditions (such as prior levels of settlement) cannot be ignored.