| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w16946 |
| 来源ID | Working Paper 16946 |
| U.S. Intervention During the Bretton Woods Era: 1962-1973 | |
| Michael D. Bordo; Owen F. Humpage; Anna J. Schwartz | |
| 发表日期 | 2011-04-14 |
| 出版年 | 2011 |
| 语种 | 英语 |
| 摘要 | By the early 1960s, outstanding U.S. dollar liabilities began to exceed the U.S. gold stock, suggesting that the United States could not completely maintain its pledge to convert dollars into gold at the official price. This raised uncertainty about the Bretton Woods parity grid, and speculation seemed to grow. In response, the Federal Reserve instituted a series of swap lines to provide central banks with cover for unwanted, but temporary accumulations of dollars and to provide foreign central banks with dollar funds to finance their own interventions. The Treasury also began intervening in the market. The operations often forestalled gold losses, but in so doing, delayed the need to solve Bretton Woods' fundamental underlying problems. In addition, the institutional arrangements forged between the Federal Reserve and the U.S. Treasury raised important questions bearing on Federal Reserve independence. |
| 主题 | Macroeconomics ; History ; Macroeconomic History |
| URL | https://www.nber.org/papers/w16946 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/574621 |
| 推荐引用方式 GB/T 7714 | Michael D. Bordo,Owen F. Humpage,Anna J. Schwartz. U.S. Intervention During the Bretton Woods Era: 1962-1973. 2011. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w16946.pdf（582KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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