Central Banking Under the Gold Standard

49 Pages Posted: 30 Oct 2012

See all articles by Marvin Goodfriend

Marvin Goodfriend

Carnegie Mellon University - David A. Tepper School of Business; National Bureau of Economic Research (NBER)

Date Written: February 1, 1988

Abstract

This paper is intended as a positive analysis of temporary government policy actions under a gold standard. To understand a gold standard is to understand the private valuation of money and gold as assets, and how their asset values can be influenced by government money and gold policy actions under a fixed money price of gold. An intertemporal, rational expectations, asset-pricing model is employed to address these issues.

Suggested Citation

Goodfriend, Marvin, Central Banking Under the Gold Standard (February 1, 1988). Federal Reserve Bank of Richmond Working Paper No. 88-5. Available at SSRN: https://ssrn.com/abstract=2120894 or http://dx.doi.org/10.2139/ssrn.2120894

Marvin Goodfriend (Contact Author)

Carnegie Mellon University - David A. Tepper School of Business ( email )

5000 Forbes Avenue
Pittsburgh, PA 15213-3890
United States

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

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