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Open AccessJournal ArticleDOI

Managing exchange rate crises: evidence from the 1890s

Vittorio Grilli
- 01 Sep 1990 - 
- Vol. 9, Iss: 3, pp 258-275
TLDR
In this paper, the authors investigated the effectiveness of the monetary authority's borrowing policies in resolving exchange rate cises and showed that obtaining loans or lines of credit in foreign currency may avoid, at least temporarily, the devaluation of a fixed rate, and discussed the problem of the optimal size of the loan and/or the line of credit.
About: 
This article is published in Journal of International Money and Finance.The article was published on 1990-09-01 and is currently open access. It has received 36 citations till now. The article focuses on the topics: Exchange rate & Interest rate parity.

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Citations
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ReportDOI

Speculative Attacks on Pegged Exchange Rates: An Empirical Exploration with Special Reference to the European Monetary System

Barry Eichengreen, +2 more
- 01 Oct 1994 - 
TL;DR: In this article, an empirical analysis of speculative attacks on pegged exchange rates in 22 countries between 1967 and 1992 is presented, where the authors define speculative attacks or crises as large movements in exchange rates, interest rates, and international reserves.
Journal ArticleDOI

The Gold Standard as a "Good Housekeeping Seal of Approval>"

Michael D. Bordo, +1 more
- 01 Jun 1996 - 
TL;DR: The authors argue that adherence to the gold standard also served as a good housekeeping seal of approval that facilitated access by peripheral countries to capital vital to their development from the core countries of western Europe.
ReportDOI

The Specie Standard as a Contingent Rule: Some Evidence for Core and Peripheral Countries, 1880-1990

Michael D. Bordo, +3 more
- 01 Sep 1994 - 
TL;DR: This paper surveys the history of the specie standard as a contingent rule for 21 countries divided into core and peripheral countries and presents evidence across four regimes (pre-1914 gold standard, interward gold standard; Bretton Woods; the subsequent managed exchange rate float) for the 21 countries on the stability of macro variables as well as on the demand and supply shocks.
Journal ArticleDOI

Speculative currency attacks with endogenously induced commercial bank crises

Victoria Miller
- 01 Jun 1996 - 
TL;DR: In this article, the authors illustrate how an internal drain alters the dynamics of a speculative attack when it results in a cash payments restriction: by interrupting the external drain, such a restriction postpones devaluation and reduces the size of the initial devaluation.
Book ChapterDOI

Chapter 3 Monetary policy regimes and economic performance: The historical record

Michael D. Bordo, +1 more
- 01 Jan 1999 - 
TL;DR: This article surveys the historical experience of both international and domestic (national) aspects of monetary regimes from the nineteenth century to the present and presents the institutional arrangements and policy actions of the Federal Reserve in the United States as an important example of a domestic policy regime.
References
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Journal ArticleDOI

Counterspeculation, auctions, and competitive sealed tenders

William Vickrey
- 01 Mar 1961 - 
Journal ArticleDOI

A Model of Balance-of-Payments Crises

Paul Krugman
- 01 Aug 1979 - 
Journal ArticleDOI

Collapsing exchange-rate regimes: Some linear examples

Robert P. Flood, +1 more
- 01 Aug 1984 - 
TL;DR: In this paper, the authors construct a pair of linear examples to study the collapse time of a fixed exchange-rate regime and derive a stochastic model for the same problem.
Journal ArticleDOI

Testing against general autoregressive and moving average error models when the regressors include lagged dependent variables

L. G. Godfrey
- 01 Nov 1978 - 
TL;DR: In this article, the Lagrange multiplier approach is adopted and it is shown that the test against the nth order autoregressive and moving average error models is exactly the same as the test in the case of the serial correlation model.
Journal ArticleDOI

Testing for autocorrelation in dynamic linear models

Trevor Breusch
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Recurrent devaluation and speculative attacks on the Mexican peso

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Financial policy and speculative runs with a crawling peg: Argentina 1979–1981

Robert E. Cumby, +1 more
- 01 Aug 1989 - 

Rational and Self-fulfilling Balance-of-Payments Crises

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Frequently Asked Questions (1)
Q1. What are the contributions in this paper?

This paper investigates the effectiveness of the monetary authority 's borrowing policies in resolvin~ exchange rate crises. The results suggest that the borrowing policy followed by the U. S. Treasury in those years was effective in avoiding the collapse of the United States ' gold standard, and that the amount of the borrowing undertaken by the Treasury might have been optimal.