Exchange Rate Management by the United Kingdom 1973–89

Keith Pilbeam
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Keith Pilbeam: City University

Chapter 4 in Exchange Rate Management: Theory and Evidence, 1991, pp 126-176 from Palgrave Macmillan

Abstract: Abstract We have so far examined exchange rate management from a theoretical viewpoint. In this part, we take as a case study of exchange rate management the exchange rate policy of the UK from January 1973 until the end of 1988. The UK represents very much a case of isolated exchange rate management upon which the first three chapters of this book have concentrated. The UK only briefly joined the ‘Snake’ system and joined the exchange rate mechanism of the European Monetary System (EMS) on 8 October 1990. We shall use some econometric regressions to describe the behaviour of the UK authorities and to shed some empirical light on some of the theoretical issues we have covered, particularly those raised in Chapter 3.

Keywords: Exchange Rate; Central Bank; Real Exchange Rate; Risk Premium; Foreign Exchange Market (search for similar items in EconPapers)
Date: 1991
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-11744-4_4

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DOI: 10.1007/978-1-349-11744-4_4

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