Saved
akrowne's Archive on Aug 24, 2008
36 Views
1 Member
Description
Very interesting paper, both from a theoretical standpoint and in terms of a practical understanding of official gold price manipulation in the late 90s.
Clipping
Not long before joining the new Clinton administration as undersecretary of the treasury for international affairs, Harvard president and former treasury secretary Lawrence H. Summers, then Nathaniel Ropes professor of political economy at Harvard, co-authored with Robert B. Barsky an article entitled "Gibson's Paradox and the Gold Standard" published in the Journal of Political Economy. The article, which appears to draw heavily on a 1985 working paper of the same title by the same authors, is an excellent technical piece, revealing a high level of expertise regarding gold, gold mining, and the interconnections among gold prices, interest rates, and inflation.