Price-specie-flow mechanism


Price-specie-flow mechanism
Adjustment mechanism under the classical gold standard whereby disturbances in the price level in one country would be wholly or partly offset by a countervailing flow of specie ( gold coins) that would act to equalize prices across countries and automatically bring international payments back in balance. The New York Times Financial Glossary

Financial and business terms. 2012.

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  • Monetary Approach to The Balance of Payments — refers to the key ideas and subsequent research of David Hume conducted in the late 1950s, the 1960s and early 1970s. David Hume presented the price–specie flow mechanism against the Mercantilist approach that stated favorable balance of trade is …   Wikipedia

  • Four Dissertations — is a collection of four essays by the Scottish enlightenment philosopher David Hume, first published in 1757. The four essays are: The Natural History of Religion Of the Passions Of Tragedy Of the Standard of Taste Contents 1 The Natural History… …   Wikipedia

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