Dollar Deutschemark Polarisation: Comparing the Pound and Franc
Forder, James & Hurn, Stan (2003) Dollar Deutschemark Polarisation: Comparing the Pound and Franc. Scottish Journal Of Political Economy, 50(3), pp. 217-231.
The extent to which movements in the sterling and franc bilateral exchange rates are associated with changes in the dollar-deutschemark exchange rate is measured. In the case of the pound we find, in contrast to the impression that might be gained from previous studies, that its linkage to the dollar has been, since the late 1990s, as high as it was in the late 1970s. In the case of the franc, we find that it has for some time been a powerfully deutschemark-linked currency. This calls into question the view that there has been significant ‘dollar-deutschemark polarity’ with respect to the franc in the recent past. We suggest that policymaker guidance and market rules of thumb may partially explain the developments we observe.
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|Item Type:||Journal Article|
|Divisions:||Current > QUT Faculties and Divisions > QUT Business School
Current > Schools > School of Economics & Finance
|Deposited On:||17 Jun 2009 12:58|
|Last Modified:||29 Feb 2012 12:59|
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