Gold standard

Definition:

An international monetary system in which currencies are defined in terms of their gold content, and payment imbalances between countries are settled in gold. It was in effect from about 1870 to 1914.

Investing Essentials


Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University

Term of the Day

Cost of limited partner capital

The discount rate that equates the after-tax inflows with outflows for capital raised from limited partners.

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