01628cas a2200253 a 4500 AALejournalIMF009041 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451851243 1018-5941 BD-DhAAL BD-DhAAL Bayoumi, Tamim. The Stability of the Gold Standard and the Evolution of the International Monetary System / Tamim Bayoumi, Barry Eichengreen. Washington, D.C. : International Monetary Fund, 1995. 1 online resource (32 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper examines some popular explanations for the smooth operation of the pre-1914 gold standard. We find that the rapid adjustment of economies to underlying disturbances played an important role in stabilizing output and employment under the gold standard system, but no evidence that this success also reflected relatively small underlying disturbances. Finally, the paper also suggests an explanation for the evolution of the international monetary system based on growing nominal inertia over time. Mode of access: Internet Eichengreen, Barry. IMF Working Papers; Working Paper ; No. 1995/089 Full text available on IMF http://elibrary.imf.org/view/journals/001/1995/089/001.1995.issue-089-en.xml IMF e-Library