Scylla and Charybdis. Explaining Europe’s Exit from Gold, January 1928 – December 1936

Nikolaus Wolf

No 2271, CESifo Working Paper Series from CESifo

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 exit from gold can be understood in terms of a trade-off between a limited set of factors commonly suggested in the theoretical literature on currency crises. A simple and parsimonious econometric framework that nests various hypotheses allows me to predict the month of exit in the 1930s, except for France. I consider the separate cases of France and Poland to show my results shed light on country-specific debates.

Keywords: gold-exchange standard; interwar period; Europe (search for similar items in EconPapers)
JEL-codes: E42 E44 N14 (search for similar items in EconPapers)
Date: 2008
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Citations: View citations in EconPapers (12)

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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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Persistent link: https://EconPapers.repec.org/RePEc:ces:ceswps:_2271

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