Scylla and Charybdis. explaining Europe's exit from gold, January 1928-December 1936
Wolf, Nikolaus. (2008) Scylla and Charybdis. explaining Europe's exit from gold, January 1928-December 1936. Explorations in Economic History, Vol.45 (No.4). pp. 383-401. ISSN 0014-4983Full text not available from this repository.
Official URL: http://dx.doi.org/10.1016/j.eeh.2008.02.003
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. (C) 2008 Elsevier Inc. All rights reserved.
|Item Type:||Journal Article|
|Subjects:||H Social Sciences > HC Economic History and Conditions
H Social Sciences > HG Finance
|Divisions:||Faculty of Social Sciences > Economics|
|Library of Congress Subject Headings (LCSH):||Gold standard -- History -- 20th century, Monetary policy -- Europe -- History -- 20th century, Depressions -- 1929|
|Journal or Publication Title:||Explorations in Economic History|
|Official Date:||September 2008|
|Number of Pages:||19|
|Page Range:||pp. 383-401|
|Access rights to Published version:||Restricted or Subscription Access|
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