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The Currency Systems of the United Kingdom Periphery

Author

Listed:
  • Dixon, Brandon

    (The Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise)

Abstract

In and around the United Kingdom, local monetary issuers separate from those of the Bank of England exist in Scotland, Northern Ireland, the Isle of Man, Guernsey, and Jersey. I briefly summarize the history of these arrangements and examine whether they are currency boards. To test whether they are, I use three measures—the reserve ratio, the annual change correlation, and reserve pass-through—as well as an analysis of institutional arrangements.

Suggested Citation

  • Dixon, Brandon, 2015. "The Currency Systems of the United Kingdom Periphery," Studies in Applied Economics 23, The Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise.
    • Handle: RePEc:ris:jhisae:0023
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    More about this item

    Keywords

    United Kingdom; Great Britain; Scotland; Northern Ireland; Isle of Man; Guernsey; Jersey; note issue; coins; currency board;
    All these keywords.

    JEL classification:

    • E59 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Other

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