Chapter

The Rules of the Bimetallic Game

Marc Flandreau

in The Glitter of Gold

Published in print March 2004 | ISBN: 9780199257867
Published online August 2004 | e-ISBN: 9780191601279 | DOI: http://dx.doi.org/10.1093/0199257868.003.0006
 The Rules of the Bimetallic Game

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Chapter 5 studies the rules of bimetallic game. It discusses the constraints and opportunities of bimetallic regimes for monetary authorities. It shows that, contrary to a widespread view, a bimetallic system does not provide fundamentally different opportunities than a monometallic one, and thus places fairly tight constraints upon monetary authorities. In fact, it is during the years of bimetallism that a high degree of European monetary integration was first achieved.

Keywords: Rules of the Game (Bloomfield); Gold devices; Bank of France; Gold purchases; Central Bank Cooperation (or lack thereof); Bank of England; Rothschild; Old banks, new banks; Péreire Brothers; Bank rates; Reserves; Monetary policy

Chapter.  15523 words.  Illustrated.

Subjects: Economic History

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