Fixed Ideas of Money

Small States and Exchange Rate Regimes in Twentieth-Century Europe

AvTobias Straumann

Häftad, Engelska, 2014

Del i serien Studies in Macroeconomic History

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Beskrivning

Most European countries are rather small, yet we know little about their monetary history. This book analyses for the first time the experience of seven small states (Austria, Belgium, Denmark, The Netherlands, Norway, Sweden, and Switzerland) during the last hundred years, starting with the restoration of the gold standard after World War I and ending with Sweden's rejection of the Euro in 2003. The comparative analysis shows that for the most part of the twentieth century the options of policy makers were seriously constrained by a distinct fear of floating exchange rates. Only with the crisis of the European Monetary System (EMS) in 1992-3 did the idea that a flexible exchange rate regime was suited for a small open economy gain currency. The book also analyses the differences among small states and concludes that economic structures or foreign policy orientations were far more important for the timing of regime changes than domestic institutions and policies.

Produktinformation

Utgivningsdatum:2014-01-30
Mått:152 x 228 x 24 mm
Vikt:634 g
Format:Häftad
Språk:Engelska
Serie:Studies in Macroeconomic History
Antal sidor:414
Förlag:Cambridge University Press
ISBN:9781107616370

Utforska kategorier

Ekonomisk historia inom Ekonomi och Ledarskap

Mer om författaren

Tobias Straumann is Lecturer in the History Department of the University of Zurich. He studied at the Universities of Bielefeld and Zurich and the Ecole des Hautes Etudes en Sciences Sociales in Paris. After a career in economic journalism, he was a visiting scholar at the University of California at Berkeley and lecturer at the University of Lausanne. Dr Straumann has worked in the fields of Swiss economic history and European financial and monetary history. He has published articles in the Journal of Contemporary History, the European Review of Economic History, and the Historische Zeitschrift.

Recensioner i media

'Tobias Straumann's excellent book breaks new ground. Informed by abundant research in archives and by the most recent theories from political economy, it provides an elegant and unified picture of the reasons why small nations in Western Europe have fixed their exchange rates and will prefer floating exchange rates.' Marc Flandreau, Graduate Institute of International Studies, Geneva

Innehållsförteckning

Introduction; Part I. The Interwar Years: 1. Early divergence; 2. The return to prewar parity; 3. Fear of experiments; 4. The dissolution of the gold bloc; Part II. After Bretton Woods: 5. Fixed vs. floating; 6. Hard and soft pegs; 7. The Swiss exception; 8. Floating in the north; Conclusion.