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| Tekijä: | Bordo, M.D. MacDonald, R. |
| Otsikko: | The inter-war gold exchange standard: credibility and monetary independence |
| Lehti: | Journal of International Money and Finance
2003 : FEB, VOL. 22:1, p. 1-32 |
| Asiasana: | Gold standard Monetary policy |
| Vapaa asiasana: | Credibility Interest rate parity |
| Kieli: | eng |
| Tiivistelmä: | The operation of the inter-war gold exchange standard is analyzed to see if the evident credibility of the system conferred on participating central banks the ability to pursue independent monetary policies. To answer the question two key parity, or arbitrage, conditions are econometrically analyzed, namely uncovered interest rate parity and a yield gap relationship. |
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