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U.S. Specie Standard

In: Essays in Economic History

Author

Listed:
  • Lawrence H. Officer

    (University of Illinois at Chicago)

Abstract

A new monetary-base series is presented for the United States 1789–1932, when the country was on an actual or potential specie standard. The series builds on the Friedman-Schwartz monetary-base series and extends it back in time. Monetary balance-of-payments series are generated, consistent with the monetary base. The time span 1792–1932 is divided into subperiods primarily based on the identification of a monetary authority. Results for the monetary base, exchange-market pressure, and economic performance are presented on that basis. The classic gold standard (1879–1913) is undeniably superior to all other periods.

Suggested Citation

  • Lawrence H. Officer, 2022. "U.S. Specie Standard," Springer Books, in: Essays in Economic History, chapter 0, pages 405-460, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-95925-8_22
    DOI: 10.1007/978-3-030-95925-8_22
    as

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