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OverviewWe study 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. Full Product DetailsAuthor: Board of Governors of the Federal ReservPublisher: Createspace Imprint: Createspace Dimensions: Width: 21.60cm , Height: 0.20cm , Length: 28.00cm Weight: 0.113kg ISBN: 9781512149760ISBN 10: 1512149764 Pages: 38 Publication Date: 12 May 2015 Audience: General/trade , General Format: Paperback Publisher's Status: Active Availability: In stock  We have confirmation that this item is in stock with the supplier. It will be ordered in for you and dispatched immediately. Table of ContentsReviewsAuthor InformationTab Content 6Author Website:Countries AvailableAll regions |
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