Books : Between the Dollar-Sterling Gold Points: Exchange Rates, Parity and Market Behavior (Studies in Macroeconomic History)
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Type of bind: Paperback
Dewey Decimal Number: 330
EAN num: 9780521038218
ISBN number: 0521038219
Label: Cambridge University Press
Manufacturer: Cambridge University Press
Quantity: 1
Page Count: 368
Printing Date: July 02, 2007
Publishing house: Cambridge University Press
Sale Popularity Level: 3735382
Studio: Cambridge University Press
Editor's Notes and Comments:
Product Description:
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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