Scylla and Charybdis explaining Europe's exit from gold, January 1928 - December 1936
The paper examines the timing of exit from the interwar gold-exchange standard for a panel of European countries, based on monthly data over the period January 1928 - December 1936. I show that exit from gold can be understood in terms of a trade-off between a limited set of factors commonly suggest...
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| Format: | UnknownFormat |
| Sprache: | eng |
| Veröffentlicht: |
Munich
Univ., Center for Economic Studies u.a.
2008
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| Schriftenreihe: | CESifo working paper series Monetary policy and international finance
2271 |
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Tag hinzufügen | Zusammenfassung: | The paper examines the timing of exit from the interwar gold-exchange standard for a panel of European countries, based on monthly data over the period January 1928 - December 1936. I show that exit from gold can be understood in terms of a trade-off between a limited set of factors commonly suggested in the theoretical literature on currency crises. A simple and parsimonious econometric framework that nests various hypotheses allows me to predict the month of exit in the 1930s, except for France. I consider the separate cases of France and Poland to show my results shed light on country-specific debates. |
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| Beschreibung: | Literaturverz. S. 33 - 40 |
| Beschreibung: | 40 S. Tab. |