DOLLAR STERLING EXCHANGE-RATE IN THE 1920S - PURCHASING POWER PARITY AND THE NORMAN CONQUEST OF 4.86-DOLLAR

被引：5
|
作者：
TAYLOR, MP
机构：
[1] Research Department, International Monetary Fund, Washington
来源：
APPLIED ECONOMICS | 1992年 / 24卷 / 08期
关键词：
D O I：
10.1080/00036849200000050
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
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.
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页码：803 / 811
页数：9
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