Bordo, Michael D.; MacDonald, Ronald and Oliver, Michael J.
(2009).
| 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 |
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