Hugh Rockoff on Optimal Currency Areas, “Yellowbacks,” and Free Banking
Macro Musings with David Beckworth
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The Gold Standard - The Wizard of Oz
From 1861 to 1879, we're off gold, but we get back on gold. That in itself is an interesting story. You've written about this as well. And you kind of touch on the transition and also that whole period of like the 1890s. So this suggests that we are still not at the point of being in an optimal currency area. Now I guess going back to our big theme here today and that's the journey of the United States to becoming an optimal currency areas.
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