| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP12425 |
| DP12425 The Gold Pool (1961-1968) and the fall of the Bretton Woods system. Lessons for central bank cooperation. | |
| Eric Monnet; Michael Bordo; Alain Naef | |
| 发表日期 | 2017-11-06 |
| 出版年 | 2017 |
| 语种 | 英语 |
| 摘要 | The Gold Pool (1961-1968) was one of the most ambitious cases of central bank cooperation in history. Major central banks pooled interventions – sharing profits and losses – to stabilize the dollar price of gold. Why did it collapse? From at least 1964, the fate of the Pool was in fact tied to sterling, the first line of defense for the dollar. Sterling’s unsuccessful devaluation in November 1967 spurred speculation and massive losses for the Pool. Contagion occurred because US policies were inflationary and insufficiently credible as well. The demise of the Pool provides a striking example of contagion between reserve currencies. |
| 主题 | Economic History ; International Macroeconomics and Finance |
| 关键词 | Gold pool Bretton woods Reserve currencies Central bank cooperation International monetary system Sterling crisis |
| URL | https://cepr.org/publications/dp12425 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/541235 |
| 推荐引用方式 GB/T 7714 | Eric Monnet,Michael Bordo,Alain Naef. DP12425 The Gold Pool (1961-1968) and the fall of the Bretton Woods system. Lessons for central bank cooperation.. 2017. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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