{"product_id":"the-real-exchange-rate-and-penny-hill-press-inc-9781522943402","title":"The Real Exchange Rate and Fiscal Policy During the Gold Standard Period: Evidence From the United States and Great Britain","description":"We studied the determinants of the dollar \/pound real exchange rate from 1879 to 1914 focusing on the role of fiscal policy. We present a simple dynamic model of the real exchange rate to frame our analysis. The econometric results are based upon the decompoition of the sources of the innovation of the real exchange rate drawn from a structural vector autoregression model. We find little evidence that changes in tariffs and government spending affected the real exchange rate. There is some stronger empirical evidence that shocks to deficits were associated with the fluctuations in the real exchange rate.\u003cbr\u003e\u003cbr\u003e\u003cb\u003eAuthor:\u003c\/b\u003e Penny Hill Press Inc, Board of Governors of the Federal Reserv\u003cbr\u003e\u003cb\u003eISBN-10:\u003c\/b\u003e 1522943404\u003cbr\u003e\u003cb\u003eISBN-13:\u003c\/b\u003e 9781522943402\u003cbr\u003e\u003cb\u003ePublisher:\u003c\/b\u003e Createspace Independent Publishing Platform\u003cbr\u003e\u003cb\u003eLanguage:\u003c\/b\u003e English\u003cbr\u003e\u003cb\u003ePublished:\u003c\/b\u003e 12\/28\/2015\u003cbr\u003e\u003cb\u003ePages:\u003c\/b\u003e 38\u003cbr\u003e\u003cb\u003eFormat:\u003c\/b\u003e Paperback\u003cbr\u003e\u003cb\u003eWeight:\u003c\/b\u003e 0.25lbs\u003cbr\u003e\u003cb\u003eSize:\u003c\/b\u003e 11.02h x 8.50w x 0.08d","brand":"Penny Hill Press Inc","offers":[{"title":"Paperback","offer_id":44124501180671,"sku":"9781522943402","price":12.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0662\/2982\/9887\/files\/img_0510c7bd-1050-49a8-8f53-f33a6a1f1720.jpg?v=1687437152","url":"https:\/\/www.whiterainbookhouse.com\/products\/the-real-exchange-rate-and-penny-hill-press-inc-9781522943402","provider":"WR Book House","version":"1.0","type":"link"}