Chapter

Conclusion

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/10.1093/0199257868.003.0010
 Conclusion

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The conclusion derives a number of lessons for European monetary history, at the same time as it provides an estimate of the cost of bimetallism for the international monetary system. The cost incurred by France for maintaining exchange rate stability for three quarters of a century is shown to be very small.

Keywords: Adjustment mechanism (smoothness of); Monetary geography; Opportunity cost

Chapter.  2522 words. 

Subjects: Economic History

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