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Contents

Published online by Cambridge University Press:  23 September 2022

Alain Naef
Alain Naef
Affiliation:
University of California, Berkeley

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An Exchange Rate History of the United Kingdom
1945–1992
 , pp. ix - xii
Publisher: Cambridge University Press
Print publication year: 2022
Creative Commons
Creative Common License - CCCreative Common License - BYCreative Common License - NCCreative Common License - ND
This content is Open Access and distributed under the terms of the Creative Commons Attribution licence CC-BY-NC-ND 4.0 https://creativecommons.org/cclicenses/

Contents

  1. List of Figures

  2. List of Tables

  3. Acknowledgements

  4. Introduction

  5. 1Sterling’s Post-War Role and Lessons from the 1947 Convertibility Crisis

    1. The Sterling Balances Problem

    2. Different Sterling Areas

    3. The Convertibility Crisis of 1947

    4. Consequences of the Crisis

  6. 2The 1949 Devaluation: Readjusting the Post-War Parities

    1. The Politics of the Devaluation

    2. Causes of the Devaluation

    3. The Balance of Payments Problem

    4. International Repercussions

  7. 3The Reopening of the London Foreign Exchange Market: Sterling’s Window on the World

    1. Negotiations

    2. The Reopening

    3. Alternative Markets

  8. 4The Bank on the Market

    1. Foreign Exchange Interventions

    2. Cooperation with the Fed

    3. Strategies and Tactics

    4. Intervention Performance

    5. The Exchange Equalisation Account

  9. 5The Reopening of the London Gold Market in 1954: Sealing the Fate of Sterling and the International System

    1. Burgeoning Competition

    2. The Gold Market Reopening

    3. Behind Closed Doors

    4. Bank of England Operations

  10. 61958 Convertibility and Its Consequences

    1. What Is Convertibility?

    2. The Politics of Convertibility in Europe

    3. An End to Parallel Markets

  11. 7The Gold Pool

    1. Cooperation with the Fed

    2. The Politics of the Gold Pool Creation

    3. How the Gold Pool Worked

    4. The Creation of the Gold Pool and the Global Price of Gold

  12. 8Cooperation and the Fed Swap Network

    1. The Bank of England’s Use of Swaps

    2. Short-Term Swaps?

    3. An Arsenal of Credit

  13. 9The 1964–1967 Currency Crisis

    1. The 1964 Crisis

    2. The Gold Crisis

    3. Sterling and Gold

  14. 10The 1967 Devaluation and the Fall of the Gold Pool

    1. A British Trigger to an International Crisis

    2. The French or Sterling?

    3. The Run-Up to the Devaluation

    4. The Run on Gold

  15. 11The Consequences of the Devaluation: Ongoing Crisis and Window Dressing at the Bank of England

    1. Not a Real Solution

    2. Disclosure of Reserves

    3. Window Dressing

    4. Secrets among Friends

  16. 12Britain, Nixon and the End of Bretton Woods

    1. The Nixon Shift

    2. The Nixon Shock

    3. Stabilisation at Last

  17. 13The 1976 IMF Crisis

    1. Was the IMF Crisis ‘Natural’ or ‘Manmade’?

    2. Unfounded Rumours

    3. Rate Cut and Further Fall

    4. The Cat Is Out of the Bag

  18. 14Britain’s Last Currency Crisis

    1. A European Crisis

    2. An Unexpected and Brutal Shock

    3. Black Wednesday

    4. What If?

    5. More Luck across the Channel

  19. Conclusion

  20. Data Availability

  21. References

  22. Index

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  • Contents
  • Alain Naef, University of California, Berkeley
  • Book: An Exchange Rate History of the United Kingdom
  • Online publication: 23 September 2022
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  • Contents
  • Alain Naef, University of California, Berkeley
  • Book: An Exchange Rate History of the United Kingdom
  • Online publication: 23 September 2022
Available formats
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Save book to Google Drive

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  • Contents
  • Alain Naef, University of California, Berkeley
  • Book: An Exchange Rate History of the United Kingdom
  • Online publication: 23 September 2022
Available formats
×