The inter-war gold exchange standard credibility and monetary independence

In this paper we analyze the operation of the inter-war gold exchange standard to see if the evident credibility of the system conferred on participating central banks the ability to pursue independent monetary policies. To answer this question we econometrically analyze two key parity, or arbitrag...

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Bibliographic Details

Main Authors:	Bordo, Michael D. (Author), MacDonald, Ronald (Author)
Resource Type:	Book
Language:	English
Published:	Cambridge National Bureau of Economic Research 2001.
Series:	NBER working paper series no. w8429
Subjects:	Gold standard > History > 20th century. Foreign exchange rates > History.
Online Access:	Download full text here