Seasonal Movements of Exchange Rates and Interest Rates under the Pre-World War I Gold Standard |
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| Author:
| Foster, Ellen |
| Series title: | Routledge Library Editions: Exchange Rate Economics Ser. |
| ISBN: | 978-1-138-74390-8 |
| Publication Date: | Apr 2017 |
| Publisher: | Routledge
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| Book Format: | Hardback |
| List Price: | USD $145.00 |
Book Description:
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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...
More Description
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.