Contractionary Devaluation Risk: Evidence from the Free Silver Movement, 1878–1900
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DOI: 10.1162/rest_a_00841
Abstract: I identify significant effects of devaluation risk on interest rates and output using US silver coinage policy news between 1878 and 1900 as clean shocks to exchange rate expectations. The Free Silver movement heightened fears… read more here.
Keywords: devaluation risk; risk; 1878 1900; devaluation ... See more keywords