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Dollar-sterling exchange rate in the 1920s : purchasing power parity and the Norman conquest of $4.86
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Taylor, Mark P. (1992) Dollar-sterling exchange rate in the 1920s : purchasing power parity and the Norman conquest of $4.86. Applied Economics, 24 (8). pp. 803-811. doi:10.1080/00036849200000050 ISSN 0003-6846.
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Official URL: http://dx.doi.org/10.1080/00036849200000050
Abstract
The issue of long-run purchasing power parity for the US dollar–UK sterling exchange rate during the 1920s float is re-examined, and it is concluded that a form of long-run purchasing-power parity did in fact hold for dollar-sterling during this period. The new results are also employed to gauge the degree of overvaluation of sterling relative to the imposed pre-war parity of $4.86 on its return to gold in 1925 and for 12 months afterwards.
| Item Type: | Journal Article | ||||
|---|---|---|---|---|---|
| Divisions: | Faculty of Social Sciences > Warwick Business School | ||||
| Journal or Publication Title: | Applied Economics | ||||
| Publisher: | Taylor & Francis Ltd. | ||||
| ISSN: | 0003-6846 | ||||
| Official Date: | 1992 | ||||
| Dates: |
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| Volume: | 24 | ||||
| Number: | 8 | ||||
| Page Range: | pp. 803-811 | ||||
| DOI: | 10.1080/00036849200000050 | ||||
| Status: | Peer Reviewed | ||||
| Publication Status: | Published | ||||
| Access rights to Published version: | Restricted or Subscription Access |
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