Exchange Rates in the Periphery and International Adjustment Under the Gold Standard PDF Download

Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Exchange Rates in the Periphery and International Adjustment Under the Gold Standard PDF full book. Access full book title Exchange Rates in the Periphery and International Adjustment Under the Gold Standard by Mr.Solomos Solomou. Download full books in PDF and EPUB format.

Exchange Rates in the Periphery and International Adjustment Under the Gold Standard

Exchange Rates in the Periphery and International Adjustment Under the Gold Standard PDF Author: Mr.Solomos Solomou
Publisher: International Monetary Fund
ISBN: 1451846126
Category : Business & Economics
Languages : en
Pages : 38

Book Description
The role of exchange rate flexibility in the periphery of the gold standard has been grossly overlooked. This paper builds a new dataset on trade-weighed exchange rates for the period 1870-1913 and finds that large currency movements in periphery countries operating inconvertible paper-money and silver-standard regimes induced major fluctuations in effective exchange rates worldwide. We relate the phenomenon to the international trade structure at the time and show that such currency fluctuations had powerful effects on trade flows. We conclude that nominal exchange rate flexibility in the periphery was an important ingredient of international payments adjustment under the gold standard.
➤