文章基本信息

标题：The Gibson Paradox: Real Gold, Interest Rates and Prices
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作者：Adam Abdullah
期刊名称：International Business Research
印刷版ISSN：1913-9004
电子版ISSN：1913-9012
出版年度：2013
卷号：6
期号：4
页码：32
DOI：10.5539/ibr.v6n4p32
出版社：Canadian Center of Science and Education
摘要：This paper aims to provide an analysis and explanation of the curious empirical relationships that exist between the price of gold, the interest rate and commodity prices, operating under the English 19th century fractional reserve gold standard and the modern American fractional reserve fiat paper standard, known as the Gibson Paradox. This paper argues that the value and purchasing power of the British pound and American dollar are managed in relation to their rate of exchange with gold and the real rate of interest, such that, changes in the general level of prices are the effect and not the cause.