In this book leading economists and economic historians look at the history of the international monetary system, in particular the workings of the gold standard, to examine the implications for international monetary relations.

Part I. Overview 1. Introduction: Currency Convertibility in Historical Perspective - The Gold Standard and Beyond Jorge Braga de Macedo, Barry Eichengreen and Jaime Reis 2. The Operation of the Specie Standards - Evidence for Core and Peripheral Countries, 1880-1990 Michael D. Bordo and Anna J. Schwartz Part II. Myths and Realities of the Gold Standard 3. The Origins of the Gold Standard Alan S. Milward 4. Short-Term Capital Movements Under the Old Gold Standard Marcello de Cecco 5. The Geography of the Gold Standard Barry Eichengreen and Marc Flandreau Comment Angela Redish Comment Albert Fishlow Part III. Portugeuse Currency Experience 6. First to Join the Gold Standard, 1854 Jaime Reis 7. Last to Join the Gold Standard, 1931 Fernando Teixeira dos Santos 8. Monetary Stability, Fiscal Discipline and Economic Performance - The Experience of Portugal Since 1854 Eugenia Mata and Nuno Valerio Comment Pablo Martin Acena Comment Gianni Toniolo Part IV. Implications for Europe in the 1990s 9. Converging Towards a European Currency Standard - Convertibility and Stability in the 1990s and Beyond Jorge Braga de Macedo