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Sterling in crisis: 1964-1967 / Michael D. Bordo, Ronald MacDonald, Michael J. Oliver.
- Format:
- Book
- Author/Creator:
- Bordo, Michael D.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w14657.
- NBER working paper series no. w14657
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Other Title:
- Sterling in crisis
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2009.
- Summary:
- We provide the first econometric study of foreign exchange market intervention for the UK during the sterling crises from 1964-1967. We use daily data on spot and forward dollar/sterling exchange rates and reserve movements which allows a more precise description of the loss of credibility during four currency crises. Reserve losses are consistent with exchange rate crises. External assistance given to sterling throughout this period shored up the reserves and allowed the sterling peg to be maintained.
- Notes:
- Print version record
- January 2009.
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