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This paper studies the role of unemployment in sterling's interwar experience. According to most narrative accounts …, the proximate cause of the 1931 sterling crisis was a high and rising unemployment rate that placed pressure on British … currency crises, highlights the conflict between the objective of low unemployment and defense of the currency and show that it …
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Using newly assembled data on foreign exchange market intervention, we construct a daily index of exchange market pressure during the 1992-3 crisis in the European Monetary System, allowing us to pinpoint when and where the crisis was most severe. Our analysis focuses on a neglected factor in...
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In the UK's 2016 referendum on EU membership, young voters were more likely than their elders to vote Remain. Applying new methods to a half century of data, we show that this pattern reflects both ageing and cohort effects. Although voters become more Eurosceptical as they age, recent cohorts...
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