Prime Between the Dollar-Sterling Gold Points: Exchange Rates, Parity and Market Behavior (Studies in Macroeconomic History)Author Lawrence H Officer –

Officer begins this book with a historical perspective of the monetary standards of the United States and Britain He then develops data on exchange rates, mint parity and gold points, with which he investigates three important features of Anglo American monetary history First, the integration of the American foreign exchange market over time Second, it is proved that gold point arbitrage is markedly efficient than either interest arbitrage or forward speculation Third, regime efficiency is explored from standpoints of both private agents and policy makers the gold standard, though less durable than the pre war standard, is nevertheless shown to be surprisingly stable The book will serve as a Dollar Sterling handbook for those interested in this important aspect of international monetary history