Sovereign Risk, Credibility and the Gold Standard: 1870-1913 versus 1925-31
收藏NBER2002-11-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w9345
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资源简介：
What determines sovereign risk? We study the London bondmarket from the 1870s to the 1930s. Our findings support conventional wisdom concerning the low credibility of the interwar gold standard. Before 1914 gold standard adherence effectively signalled credibility and shaved 40 to 60 basis points
提供机构：
美国国家经济研究局
创建时间：
2002-11-01
