Bernanke (1995) showed that not only did adherence to the gold standard predict deeper and more extended depression, as had been noted by earlier authors, but also that the behavior of various key macro variables, such as real wages and real interest rates, differed across gold-standard and non-gold-standard countries in just the way one would expect if the driving shocks were monetary in nature.
2. plural phenomena a: an object or aspect known through the senses rather than by thought or intuition b: a temporal or spatiotemporal object of sensory experience as distinguished from a noumenon c: a fact or event of scientific interest susceptible to scientific description and explanation.
Noun. 1. natural phenomenon-all phenomena that are not artificial. phenomenon-any state or process known through the senses rather than by intuition or reasoning.chemical phenomenon-any natural phenomenon involving chemistry (as changes to atoms or molecules).geological phenomenon-a natural phenomenon involving the structure or composition of the earth.organic phenomenon - (biology) a natural phenomenon involving living plants and animals. physical phenomenon-a natural phenomenon involving the physical properties of matter and energy.eological phenomenon-a natural phenomenon involving the structure or composition of the earth. organic phenomenon - (biology) a natural phenomenon involving living plants and animals. physical phenomenon-a natural phenomenon involving the physical properties of matter and energy.