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Bordo, Michael D.; MacDonald, Ronald and Oliver, Michael J.
(2009).
DOI: https://doi.org/10.1017/S1361491609990128
URL: http://ereh.oxfordjournals.org/content/13/3/437.fu...
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.
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About
- Item ORO ID
- 38228
- Item Type
- Journal Item
- ISSN
- 1474-0044
- Academic Unit or 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) - Copyright Holders
- © 2009 European Historical Economics Society
- Depositing User
- Michael Oliver