Currency depreciation and monetary policy / by Milton Gilbert.

By: Material type: TextTextPublication details: Philadelphia : University of Pennsylvania ; London : H. Milford, Oxford University Press ; 1939.Description: xiii, 167 pages including tables and diagrams ; 24 cmSubject(s): DDC classification:
  • 332.409
LOC classification:
  • HG 255 .G46 1939
Online resources:
Contents:
II. Depreciation in an agricultural country: Australia - The dependence of Australia upon foreign trade -- Deflationary influence of the decline of export prices -- Deflationary influence of the cessation of foreign borrowing -- Attempts to force the needed adjustment -- Depreciation of the Australian currency -- The effect of depreciation on exports and imports -- The end of deflation -
III. The depreciation of sterling - The overvaluation of sterling -- The vulnerable position of sterling -- The depreciation of sterling -- Internal effects of depreciation -
IV. The External effects of sterling depreciation: Sweden - Effect of the world deflation on Sweden's international economic position -- The balance-of-payments situation -- The adequacy of international currency reserves -- The effects of sterling depreciation -- The effects of depreciation -
V. External effects of sterling depreciation: The United States - The external effect of adjusting an overvalued currency -- The opportunity for a deflationary pressure from sterling depreciation -- Deflationary influences of an overvalued currency -- Flight from the dollar -- The balance of payments -- Effect on imports -- Effect on exports -- Summary -
VI. The depreciation of the dollar - Deflation and the bank holiday -- Suspension of gold payments -- Adaption of depreciation as a policy -- Why the dollar depreciated -- Objectives to depreciation -- Objectives of depreciation -- Depreciation and prices -- Depreciation and farm prices -- Depreciation and foreign trade -- The use of a devaluation to increase gold reserves -- Depreciation as a preparation for inflation -- Summary.
Summary: "In this study I have examined the experience of several countries with exchange depreciation during the depression that broke in 1929. It has been my purpose not only to show the variety of causes and effects of depreciation among these isolated cases, but also to provide a background for assessing the role of exchange manipulation in monetary policy. For I earnestly feel that opinion thus far has been too sharply divided either for the gold standard or against it without sufficient exploration of the middle ground." -From the preface.
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Item type Current library Collection Call number Status Date due Barcode
BOOKS BOOKS Niebyl-Proctor Marxist Library General Stacks The Karl H. Niebyl Collection HG 255 .G46 1939 (Browse shelf(Opens below)) Not For Loan NPML20020034
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HG 221 .M67 1950 Monetary policy for a competitive society / HG 221 .R56 1948 Money / HG 235 .E35 1948 Primitive money : HG 255 .G46 1939 Currency depreciation and monetary policy / HG 289 .A6413 1983 Gold--the yellow devil / HG 538 .L45 1973 Inflation: The permanent problem of boom and bust / HG 2565 .K48 1980 Money, credit, and interest rates ; their gross mismanagement by the Federal Reserve system :

II. Depreciation in an agricultural country: Australia - The dependence of Australia upon foreign trade -- Deflationary influence of the decline of export prices -- Deflationary influence of the cessation of foreign borrowing -- Attempts to force the needed adjustment -- Depreciation of the Australian currency -- The effect of depreciation on exports and imports -- The end of deflation -

III. The depreciation of sterling - The overvaluation of sterling -- The vulnerable position of sterling -- The depreciation of sterling -- Internal effects of depreciation -

IV. The External effects of sterling depreciation: Sweden - Effect of the world deflation on Sweden's international economic position -- The balance-of-payments situation -- The adequacy of international currency reserves -- The effects of sterling depreciation -- The effects of depreciation -

V. External effects of sterling depreciation: The United States - The external effect of adjusting an overvalued currency -- The opportunity for a deflationary pressure from sterling depreciation -- Deflationary influences of an overvalued currency -- Flight from the dollar -- The balance of payments -- Effect on imports -- Effect on exports -- Summary -

VI. The depreciation of the dollar - Deflation and the bank holiday -- Suspension of gold payments -- Adaption of depreciation as a policy -- Why the dollar depreciated -- Objectives to depreciation -- Objectives of depreciation -- Depreciation and prices -- Depreciation and farm prices -- Depreciation and foreign trade -- The use of a devaluation to increase gold reserves -- Depreciation as a preparation for inflation -- Summary.

"In this study I have examined the experience of several countries with exchange depreciation during the depression that broke in 1929. It has been my purpose not only to show the variety of causes and effects of depreciation among these isolated cases, but also to provide a background for assessing the role of exchange manipulation in monetary policy. For I earnestly feel that opinion thus far has been too sharply divided either for the gold standard or against it without sufficient exploration of the middle ground." -From the preface.

From the library of Karl & Elizabeth Niebyl.

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