Scylla and Charybdis. Explaining Europe?s Exit from Gold, January 1928- December 1936

Nikolaus Wolf

No 6685, CEPR Discussion Papers from C.E.P.R. Discussion Papers

Abstract: The paper examines the timing of exit from the interwar gold-exchange standard for a panel of European countries, based on monthly data over the period January 1928 - December 1936. I show that the decision of exit from gold can be understood in terms of a trade-off between a quite limited set of factors commonly suggested in the theoretical literature on currency crises. A simple and parsimonious econometric framework that nests various hypotheses allows predicting the very month when a country will exit gold in the 1930s.

Keywords: Gold-exchange standard; Europe; Interwar period (search for similar items in EconPapers)
JEL-codes: E42 E44 N14 (search for similar items in EconPapers)
Date: 2008-02
New Economics Papers: this item is included in nep-cba, nep-his, nep-mac and nep-mon
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Citations: View citations in EconPapers (24)

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Related works:
Journal Article: Scylla and Charybdis. Explaining Europe's exit from gold, January 1928-December 1936 (2008)
Working Paper: Scylla and Charybdis. Explaining Europe’s Exit from Gold, January 1928 – December 1936 (2008)
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