Reading a target zone in Keynes's 'Indian currency and finance'

Arbeitspapier

The gold-exchange standard in India 1893-1913 was characterized by a narrow target zone for the exchange rate, a wide annual range for the international interest-rate differential, and negative (seasonal) autocorrelation in interest rates. These properties are consistent with a standard target-zone model in which fundamentals are negatively autocorrelated on a Markov chain.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: Queen's Economics Department Working Paper ; No. 1251

Classification and Topics

• Classification: Wirtschaft ; Foreign Exchange ; Economic History: Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations: Europe: Pre-1913 ; Economic History: Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations: Asia including Middle East
• Subject: target zone ; Indian currency question ; gold exchange standard

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Smith, Gregor W.
• Event: Veröffentlichung
• (who): Queen's University, Department of Economics
• (where): Kingston (Ontario)
• (when): 1994

Further information

• Handle: http://hdl.handle.net/10419/67834
• Last update: 10.03.2025, 11:44 AM CET