Publication: Journal of Economic Education
Volume: Volume 16, No. 1
Issue: Winter 1985
Pages: pp. 16-26
Author(s): Cecil E. Bohanon, Gerald J. Lynch, and T. Norman Van Cott
Title: A Supply and Demand Exposition of the Operation of a Gold Standard in a Closed Economy
Abstract: Neither short-run nor long-run price stability is a necessary state of affairs under a gold standard, according to the authors. This conclusion results from an examination of possible differential rates of productivity growth in the gold and non-gold producing sectors.