then vs. now Juhl, Ted. Miles, William. Weidenmier, Marc D. National Bureau of Economic Research. text bibliography text mau 2004 monographic Cambridge, MA National Bureau of Economic Research c2004 eng

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"We introduce a new weekly database of spot and forward US-UK exchange rates as well as interest rates to examine the integration of forward exchange markets during the classical gold standard period (1880-1914). Using threshold autoregressions (TAR), we estimate the transactions cost band of covered interest differentials (CIDs) and compare our results to studies of more recent periods. Our findings indicate that CIDs for the US-UK rate were generally larger during the classical gold standard than any period since. We argue that slower information and communications technology during the gold standard period led to fewer short-term financial flows, higher transactions costs, and larger CIDs"--National Bureau of Economic Research web site. Ted Juhl, William Miles, Marc D. Weidenmier. Title from PDF file as viewed on 1/11/2005. Includes bibliographical references. Also available in print. Mode of access: World Wide Web. System requirements: Adobe Acrobat Reader. Foreign exchange futures History Interest rate futures History HB1 https://hdl.loc.gov/loc.gdc/gdcebookspublic.2005615464 http://papers.nber.org/papers/W10961 working paper no. 10961 2005615464 aacr DLC 050111 20250606213817.3 13838779 Converted from MARCXML to MODS version 3.8 using MARC21slim2MODS3-8_XSLT1-0.xsl (Revision 1.172 20230208)