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Start Over Descriptor "*CURRENCY question" Language english Region united kingdom Publisher cambridge university press
1 results on '"*CURRENCY question"'

1. Competing Bimetallic Ratios: Amsterdam, London, and Bullion Arbitrage in Mid-Eighteenth Century.

Author

Nogues-Marco, Pilar

Subjects
*BIMETALLISM, *PRECIOUS metals, *CURRENCY question, *MONEY, *MONETARY systems, *COINAGE, *GOLD standard, *ECONOMICS, *HISTORY, *ECONOMIC history, ECONOMIC conditions in the Netherlands
Abstract

This article analyzes the stability of bimetallism for countries operating in integrated bullion markets that enact different legal ratios. I articulate a new theoretical framework to demonstrate that two countries can both be bimetallic only if they coordinate their legal ratios. The theoretical framework is applied to the mid-eighteenth century when London's legal ratio was 3.8 percent higher than that of Amsterdam. I find that Amsterdam was effectively on the bimetallic standard, whereas London was on a de facto gold standard. [ABSTRACT FROM PUBLISHER]

Published
2013
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