Browsing Norges Banks vitenarkiv by Subject "gold standard"
Now showing items 1-5 of 5
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Liquidity Management and Central Bank Strength: Bank of England Operations Reloaded, 1889-1910
(Working Papers;10/2016, Working paper, 2016)Is a strong commitment to monetary stability enough to ensure credibility? The recent literature suggests it might not be if the central bank cannot perform pure interest rate policy and has to resort to balance sheet ... -
Monetary Policy Under the Gold Standard - Examining the Case of Norway, 1893-1914
(Working Papers;14/2008, Working paper, 2008)This essay examines Norwegian monetary policy under the final decades of the classical international gold standard regime prior to World War I. While the evidence clearly demonstrates that the commitment to gold convertibility ... -
Price Stability and Inflation Persistence During the International Gold Standard: The Scandinavian Case
(Working Papers;20/2009, Working paper, 2009)In the 1870s the three Scandinavian countries Denmark, Norway and Sweden formed the Scandinavian Currency Union. Both the adoption of gold and the monetary union were supposed to lead to price stability in and between these ... -
The Bank of England as the World Gold Market-Maker During the Classical Gold Standard Era, 1889-1910
(Working Papers;15/2012, Working paper, 2012)This paper studies the microfoundations of the so-called "gold device" policy by analysing a new dataset on the Bank of England's operations in the gold market at the heyday of the classical gold standard. It explains that ... -
The Decentralised Central Bank: Regional Bank Rate Autonomy in Norway, 1850-1892
(Working Papers;20/2015, Working paper, 2015)Before 1893 the regional branches of Norges Bank set their own bank rates. We discuss how bank rate autonomy could be reconciled with the fixed exchange rate commitments of the silver and gold standard. Although the ...