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The Real Exchange Rate and Fiscal Policy During the Gold Standard Period: Evidence From the United States and Great Britain (in English)
Board of Governors of the Federal Reserv
(Author)
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Penny Hill Press Inc
(Illustrated by)
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Createspace Independent Publishing Platform
· Paperback
The Real Exchange Rate and Fiscal Policy During the Gold Standard Period: Evidence From the United States and Great Britain (in English) - Penny Hill Press Inc ; Board of Governors of the Federal Reserv
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Synopsis "The Real Exchange Rate and Fiscal Policy During the Gold Standard Period: Evidence From the United States and Great Britain (in English)"
We studied the determinants of the dollar /pound real exchange rate from 1879 to 1914 focusing on the role of fiscal policy. We present a simple dynamic model of the real exchange rate to frame our analysis. The econometric results are based upon the decompoition of the sources of the innovation of the real exchange rate drawn from a structural vector autoregression model. We find little evidence that changes in tariffs and government spending affected the real exchange rate. There is some stronger empirical evidence that shocks to deficits were associated with the fluctuations in the real exchange rate.
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The book is written in English.
The binding of this edition is Paperback.
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