Stabilizing the Dollar a Plan to Stabilize the General Price Level Without Fixi
Stabilizing the Dollar a Plan to Stabilize the General Price Level Without Fixi
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Under the " indefinite " system the reserve might sometime sink to zero and redemption become impossible, whereas under the " definite " system the adequacy of the reserve is always safeguarded.
The " definite " system would act more promptly to stabilize the price level than would the " indefinite, " because, for one reason, the change in the circulation would be more prompt. The instant any change in the dollar's weight is made there is a change in the number of dollars of the reserve, and th...e volume of certificates is readjusted to this changed reserve immediately. Under the ''indefinite " system, on the other hand, the Sec. 1, E] TECHNICAL DETAILS 131 circulation would be affected somewhat more slowly and only as the flow of gold deposits and withdrawals became changed.
E. Stabilization in Small and Large Nations Com- pared. The displacement of gold caused or averted by the operation of the " indefinite " system would react on the value of gold per unit of weight. Practically, however, this effect would be negligible unless the stabilization system, in the '' indefinite " form, were in almost universal use.
What to read after Stabilizing the Dollar a Plan to Stabilize the General Price Level Without Fixi?
You can find similar books in the "Read Also" column, or choose other free books by Irving Fisher to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Under the " indefinite " system the reserve might sometime sink to zero and redemption become impossible, whereas under the " definite " system the adequacy of the reserve is always safeguarded.
The " definite " system would act more promptly to stabilize the price level than would the " indefinite, " because, for one reason, the change in the circulation would be more prompt. The instant any change in the dollar's weight is made there is a change in the number of dollars of the reserve, and th...e volume of certificates is readjusted to this changed reserve immediately. Under the ''indefinite " system, on the other hand, the Sec. 1, E] TECHNICAL DETAILS 131 circulation would be affected somewhat more slowly and only as the flow of gold deposits and withdrawals became changed.
E. Stabilization in Small and Large Nations Com- pared. The displacement of gold caused or averted by the operation of the " indefinite " system would react on the value of gold per unit of weight. Practically, however, this effect would be negligible unless the stabilization system, in the '' indefinite " form, were in almost universal use.
What to read after Stabilizing the Dollar a Plan to Stabilize the General Price Level Without Fixi?
You can find similar books in the "Read Also" column, or choose other free books by Irving Fisher to read onlineMoreLess
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