Abstract
The lecture is partly based on Burstein (1986, Chapters 4 and 11). Also see Barsky and Summers (1988), Friedman (1951/1953) and Friedman and Schwartz (1982, esp. Chapter 10). The specie-flow mechanism and other properties of adjustment under fixed exchange rates have been studied in Lecture Six.
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© 1989 M. L. Burstein
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Burstein, M.L. (1989). Lecture Eight: Pure Theory of the Gold Standard: Commodity Money in Classical Economics. In: Open-Economy Monetary Economics. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-10963-0_8
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DOI: https://doi.org/10.1007/978-1-349-10963-0_8
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-10965-4
Online ISBN: 978-1-349-10963-0
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