1861

Claude Diebolt and Antoine Parent

Post-Print from HAL

Abstract: We apply the outlier methodology to the issue of the regulation of Bimetallism. Did French and British central banks use their discount rates as a policy tool for currency stabilization over the period 1850-1870 ? The common view identifies Bimetallism as a pure automatic system constrained by specie points. Using outliers methodology we give evidence that the influence of the discount rate differential between France and England on the Sterling-Franc spot exchange rate was taken in default only on one occasion, on February 1861. The assessment of the historical context helps to understand this peculiar event which was only transitory. This article is an illustration of the importance of the outlier methodology in cliometrics as a mean to test conventional wisdom in economic history.

Keywords: 1850-1870; Sterling-Franc spot; Bimetallism; France; Great Britain; Central banks (search for similar items in EconPapers)
Date: 2005
References: Add references at CitEc
Citations:

Published in Applied Economics Letters, 2005, 12 (15), pp.915-919. ⟨10.1080/13504850600972253⟩

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
Journal Article: 1861 (2008)
Working Paper: 1861 (2005)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-00279247

DOI: 10.1080/13504850600972253

Access Statistics for this paper

More papers in Post-Print from HAL
Bibliographic data for series maintained by CCSD ().