Following the Yellow Brick Road: How the United States Adopted the Gold Standard

  title={Following the Yellow Brick Road: How the United States Adopted the Gold Standard},
  author={François R. Velde},
  journal={Monetary Economics},
  • F. Velde
  • Published 22 June 2002
  • Economics, History
  • Monetary Economics
The United States, with some difficulty, adopted the gold standard in the late nineteenth century, thus pegging the dollar to the pound sterling and other currencies. Some have argued it was mistake, others that it was inevitable. This article recounts the historical background and uses a model to shed light on the choices faced by policymakers of the time. 
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