Abstract

DUARTE, César. The Gold Standard and the Great Depression in Chile: 1925-1935. Am. Lat. Hist. Econ [online]. 2019, vol.26, n.2, e915.  Epub May 01, 2019. ISSN 2007-3496.  https://doi.org/10.18232/alhe.915.

The paper studies the adoption, operation and end of the gold standard in Chile. This led to a discussion of the effects of the Great Depression in the Chilean economy, the immediate cause for the end of the gold standard. The magnitude of the impact of the international crisis and the effects of the policy measures adopted are analyzed using statistical data. The objective of the paper is to prove that monetary policy, which became flexible because of the end of the gold standard, had a bigger impact than fiscal policy in the overcome of the turmoil. In this way, the vision that states that the rapid recovery of the crisis in Chile can be explained by the adoption of pre-Keynesian policy measures based on public expense is questioned.

Keywords : gold standard; Great Depression; monetary policy; Central Bank.

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