Reading a target zone in Keynes's 'Indian currency and finance'

The gold-exchange standard in India 1893-1913 was characterized by a narrow target zone for the exchange rate, a wide annual range for the international interest-rate differential, and negative (seasonal) autocorrelation in interest rates. These properties are consistent with a standard target-zone model in which fundamentals are negatively autocorrelated on a Markov chain.

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Year of publication:	1994
Authors:	Smith, Gregor W.
Publisher:	Kingston (Ontario) : Queen's University, Department of Economics
Subject:	target zone \| Indian currency question \| gold exchange standard

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Series:	Queen's Economics Department Working Paper ; 1251
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	733244041 [GVK] hdl:10419/67834 [Handle]
Classification:	F31 - Foreign Exchange ; N13 - Europe: Pre-1913 ; N15 - Asia including Middle East
Source:	EconStor

Persistent link: https://www.econbiz.de/10010290419