The Open UniversitySkip to content
 

Sterling in crisis, 1964–67

Bordo, Michael D.; MacDonald, Ronald and Oliver, Michael J. (2009). Sterling in crisis, 1964–67. European Review of Economic History, 13(3) pp. 437–459.

URL: http://ereh.oxfordjournals.org/content/13/3/437.fu...
DOI (Digital Object Identifier) Link: https://doi.org/10.1017/S1361491609990128
Google Scholar: Look up in Google Scholar

Abstract

We provide the first econometric study of foreign exchange market intervention for the UK during the sterling crises from 1964 from 1967. We use daily data on spot and forward dollar/sterling exchange rates and reserve movements which allows a more precise description of the loss of credibility during four currency crises. Reserve losses are consistent with exchange rate crises. External assistance given to sterling throughout this period shored up the reserves and allowed the sterling peg to be maintained.

Item Type: Journal Item
Copyright Holders: 2009 European Historical Economics Society
ISSN: 1474-0044
Academic Unit/School: Faculty of Business and Law (FBL) > Business > Department for Accounting and Finance
Faculty of Business and Law (FBL) > Business
Faculty of Business and Law (FBL)
Item ID: 38228
Depositing User: Michael Oliver
Date Deposited: 20 Aug 2013 10:24
Last Modified: 07 Dec 2018 10:18
URI: http://oro.open.ac.uk/id/eprint/38228
Share this page:

Metrics

Altmetrics from Altmetric

Citations from Dimensions

Actions (login may be required)

Policies | Disclaimer

© The Open University   contact the OU