Scylla and Charybdis. Explaining Europe's exit from gold, January 1928-December 1936
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.
Year of publication: |
2008
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---|---|
Authors: | Wolf, Nikolaus |
Published in: |
Explorations in Economic History. - Elsevier, ISSN 0014-4983. - Vol. 45.2008, 4, p. 383-401
|
Publisher: |
Elsevier |
Subject: | Gold-exchange standard Interwar period Europe |
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