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The purpose of this study is to improve understanding of the gold standard period in Portugal through comparison with … other monetary systems that were operated afterwards. Portugal was the first country in Europe to join Great Britain in the … gold standard, in 1854, and it adhered to it for quite a long time. The principle of free gold convertibility of the …
Persistent link: https://www.econbiz.de/10005067718
This paper offers a fact-oriented chronology of the Danish exchange-rate policy since the introduction of the krone as the Danish currency unit in 1875.
Persistent link: https://www.econbiz.de/10010321237
by considering the case of Portugal that adhered to the system, in 1854, at a much earlier phase than the majority of … typical peripheral country, Portugal can be used as the starting point for a study of the degree of integration of the …
Persistent link: https://www.econbiz.de/10004977894
This paper applies theories and methods from modern economics and finance to new sets of historical financial data in order to study the integration and efficiency of the Scandinavian foreign exchange market. Series of the monthly prices of sight sterling bills have been collected and subjected...
Persistent link: https://www.econbiz.de/10005649154
The central bank’s possibility to sustain the specie standard was largely affected by both the financial development and its internationalization. The increased foreign debt denominated in foreign currencies forced the central bank to engage in more disciplinary monetary policy. The developed...
Persistent link: https://www.econbiz.de/10005763155
, convertibility in 1842 linked the domestic currency with international money at fixed rates, but had hardly any bearing on the …
Persistent link: https://www.econbiz.de/10012143730
, convertibility in 1842 linked the domestic currency with international money at fixed rates, but had hardly any bearing on the …
Persistent link: https://www.econbiz.de/10008514722
by considering the case of Portugal that adhered to the system, in 1854, at a much earlier phase than the majority of … typical "peripheral" country, Portugal can be used as the starting point for a study of the degree of integration of the …
Persistent link: https://www.econbiz.de/10013108968
The three exchange rate regimes adopted by Italy from 1883 up to the eve of World War I — the gold standard (1883-1893), floating rates (1894-1902), and “gold shadowing” (1903-1911) — produced a puzzling result: formal adherence to the gold standard ended in failure while shadowing the...
Persistent link: https://www.econbiz.de/10008506784
time, the bank might suspend convertibility in order to provide the liquidity needed to support the domestic credit market … the crises persisted support mechanisms other than abandoning convertibility were required. The solution adopted was to …
Persistent link: https://www.econbiz.de/10001799324