Abstract

http://ssrn.com/abstract=226470
 
 

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The Gold Standard and the Great Depression


Barry Eichengreen


University of California, Berkeley - Department of Economics; National Bureau of Economic Research (NBER); Centre for Economic Policy Research (CEPR)

Peter Temin


Massachusetts Institute of Technology (MIT) - Department of Economics; National Bureau of Economic Research (NBER)

June 1997

NBER Working Paper No. w6060

Abstract:     
This paper, written primarily for historians, attempts to explain why political leaders and central bankers continued to adhere to the gold standard as the Great Depression intensified. We do not focus on the effects of the gold standard on the Depression, which we and others have documented elsewhere, but on the reasons why policy makers chose the policies they did. We argue that the mentality of the gold standard was pervasive and compelling to the leaders of the interwar economy. It was expressed and reinforced by the discourse among these leaders. It was opposed and finally defeated by mass politics, but only after the interaction of national policies had drawn the world into the Great Depression.

Number of Pages in PDF File: 45

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Date posted: July 14, 2000  

Suggested Citation

Eichengreen, Barry and Temin, Peter, The Gold Standard and the Great Depression (June 1997). NBER Working Paper No. w6060. Available at SSRN: http://ssrn.com/abstract=226470

Contact Information

Barry Eichengreen (Contact Author)
University of California, Berkeley - Department of Economics ( email )
549 Evans Hall #3880
Berkeley, CA 94720-3880
United States
510-642-2772 (Phone)
510-642-0822 (Fax)
National Bureau of Economic Research (NBER)
1050 Massachusetts Avenue
Cambridge, MA 02138
United States
Centre for Economic Policy Research (CEPR)
77 Bastwick Street
London, EC1V 3PZ
United Kingdom
Peter Temin
Massachusetts Institute of Technology (MIT) - Department of Economics ( email )
50 Memorial Drive
E52-280a
Cambridge, MA 02142
United States
617-253-3126 (Phone)
617-253-6915 (Fax)
National Bureau of Economic Research (NBER)
1050 Massachusetts Avenue
Cambridge, MA 02138
United States
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