Managing exchange rate crises : evidence from the 1890's

Author / Creator

Grilli, Vittorio

Available as

Online

Summary

Abstract: This paper investigates the effectiveness of the monetary. Abstract: authority's borrowing policies in resolving exchange rate crises. It. Abstract: shows why obtaining loans or lines of ...

Abstract: This paper investigates the effectiveness of the monetary.

Abstract: authority's borrowing policies in resolving exchange rate crises. It.

Abstract: shows why obtaining loans or lines of credIt in foreign currency may.

Abstract: avoid, at least temporarily, the deyaluation of a fixed exchange rate.

Abstract: and discusses the problea of the optimal size of the loan and/or the.

Abstract: line of credit. The analysis focuses on a particular episode of foreign.

Abstract: exchange rate pressure, during the troubled years between 1894 to 1896.

Abstract: The results suggest that the borrowing policy followed by the U.S.

Abstract: Treasury in those years was effective in avoiding the collapse of the.

Abstract: United States' gold standard, and that the amount of the borrowing.

Abstract: undertaken by the Treasury might have been optimal.

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