The Validity of International Gold Movement Statistics (Classic Reprint)

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Excerpt from The Validity of International Gold Movement Statistics Data on international gold movements are used not only for purposes of description and analysis, but also for policy guidance. The rates of interest of central banks, for example, frequently have been changed because of reported gold fiows between countries. Such changes were justified by data which - as we shall see - are of highly questionable character even for these purposes. There is no doubt that all serious economic writers try to be as careful ...

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