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Concluding Reflections

In: Sterling in Decline

Author

Listed:
  • Sir Alec Cairncross

    (St Peter’s College)

  • Barry Eichengreen

    (University of California)

Abstract

It is scarcely possible to exaggerate the extent to which our three devaluations of sterling differed from one another. Indeed, the differences are so striking that it sometimes seems as if the only thing these three devaluations had in common was their coincidence on each occasion with an eclipse of the moon.1 None the less, a comparison of the three episodes reveals a surprising number of similarities – significant enough, in any case, to encourage us to attempt to generalize regarding the causes and effects of the three devaluations.

Suggested Citation

  • Sir Alec Cairncross & Barry Eichengreen, 2003. "Concluding Reflections," Palgrave Macmillan Books, in: Sterling in Decline, edition 0, chapter 6, pages 218-231, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-59630-6_6
    DOI: 10.1057/9780230596306_6
    as

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