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Ricardo on Money : A Reappraisal / by Deleplace, Ghislain

Table of Contents: “…The pamphlet On Protection to Agriculture, April 1822 -- 5 The adjustment to a change in the value of the standard -- 5.1 From an ambiguity in the Bullion Essays to a clarification in Principles -- Criticising Bentham on the cause of the general rise in prices -- From the mine to the mint -- 5.2 The extension of the theory of rent from land to mines -- 5.3 The specificity of gold bullion in respect to corn -- The adjustment to a new land growing corn with a higher productivity -- Two differences between gold bullion and corn -- 5.4 The adjustment in the gold-producing country: a new "distribution of capital" -- A fall in the value of gold bullion -- The closure of existing mines as a consequence of the discovery of a new one -- A formalisation of the adjustment -- A numerical example -- 5.5 The adjustment in the gold-importing country: minting -- From the foreign mine to importation -- From importation to the mint -- 5.6 The effect of an increased demand for bullion by the issuing bank -- The case of the Bank of England from 1819 to 1821 -- The adjustment -- 5.7 Conclusion: The MoneyStandard Equation and a real shock on the value of money -- A change in the value of money, but no depreciation or appreciation -- The timing of the adjustment -- Symmetrical real shock versus asymmetrical monetary shock -- Appendix 5: Taxes on gold -- 1. …”
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