Seasonal Movements of Exchange Rates and Interest Rates Under the Pre-World War I Gold Standard
Business & Finance, Economics, Economic History
| Author: | Ellen Foster | ISBN: | 9781351717052 |
| Publisher: | Taylor and Francis | Publication: | April 21, 2017 |
| Imprint: | Routledge | Language: | English |
| Author: | Ellen Foster |
| ISBN: | 9781351717052 |
| Publisher: | Taylor and Francis |
| Publication: | April 21, 2017 |
| Imprint: | Routledge |
| Language: | English |
Originally published in 1994. This work investigates seasonal fluctuations of US and British short term nominal interest rates, the dollar-sterling exchange rate and short term interest rate differentials between the US and Britain during the period 1883-1913. It finds that during the pre-World War Gold Standard seasonal movements in exchange rates did not tend to offset the seasonal fluctuations in interest rate differentials. It presents a model to explain the fluctuations and outlines two specific empirical investigations, considering the results in the light of more recent historical periods as well.
Originally published in 1994. This work investigates seasonal fluctuations of US and British short term nominal interest rates, the dollar-sterling exchange rate and short term interest rate differentials between the US and Britain during the period 1883-1913. It finds that during the pre-World War Gold Standard seasonal movements in exchange rates did not tend to offset the seasonal fluctuations in interest rate differentials. It presents a model to explain the fluctuations and outlines two specific empirical investigations, considering the results in the light of more recent historical periods as well.
