Between the Dollar-Sterling Gold Points : Exchange Rates, Parity and Market Behavior
Book Details
Format
Paperback / Softback
Book Series
Studies in Macroeconomic History
ISBN-10
0521038219
ISBN-13
9780521038218
Publisher
Cambridge University Press
Imprint
Cambridge University Press
Country of Manufacture
GB
Country of Publication
GB
Publication Date
Jul 2nd, 2007
Print length
368 Pages
Weight
551 grams
Dimensions
22.70 x 15.10 x 2.00 cms
Product Classification:
United States of America, USAMonetary economics
Ksh 9,600.00
Manufactured on Demand
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This book investigates US-UK monetary relations, 1791 to 1931. It presents and examines data on the exchange rate with emphasis on the institutional and legal aspects. It will serve as a Dollar-Sterling handbook for those interested in this important aspect of international monetary history.
Officer begins this book with a historical perspective of the monetary standards of the United States and Britain. He then develops data on exchange rates, mint parity and gold points, with which he investigates three important features of Anglo-American monetary history. First, the integration of the American foreign-exchange market over time. Second, it is proved that gold-point arbitrage is markedly more efficient than either interest arbitrage or forward speculation. Third, regime efficiency is explored from standpoints of both private agents and policy-makers; the 1925–1931 gold standard, though less durable than the pre-war standard, is nevertheless shown to be surprisingly stable. The book will serve as a Dollar-Sterling handbook for those interested in this important aspect of international monetary history.
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