Items related to Seasonal Movements of Exchange Rates and Interest Rates...
Seasonal Movements of Exchange Rates and Interest Rates Under the Pre-World War I Gold Standard (Financial Sector of the American Economy) - Hardcover
Synopsis
Analyzes the seasonal fluctuations of US and British short-term nominal interest rates, the dollar-sterling exchange rate, and short-term interest rate differentials from 1883 to 1913. Finds that the interest rates varied differently in the two countries and that the separate variations in exchange rates exacerbated rather than mitigated those changes. Concludes that the costs of transaction alone cannot account for the seasonal changes, and posits liquidity constraints on arbitrageurs in London as a cause. Annotation copyright Book News, Inc. Portland, Or.
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Synopsis
Analyzes the seasonal fluctuations of US and British short-term nominal interest rates, the dollar-sterling exchange rate, and short-term interest rate differentials from 1883 to 1913. Finds that the interest rates varied differently in the two countries and that the separate variations in exchange rates exacerbated rather than mitigated those chan
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