Where was the global price of silver established?
Evidence from London and New York (1878-1953)
Corbet, ShaenORCID: 0000-0001-7430-7417 and O'Connor, FergalORCID: 0000-0002-2877-8098
(2020)
Where was the global price of silver established?
Evidence from London and New York (1878-1953).
Finance Research Letters, 39
.
ISSN 1544-6123
This paper utilises a newly compiled data set of monthly silver prices for the London and New
York markets, as well as the monthly Dollar-Sterling exchange rate, from 1878 and 1953 in order
to investigate the source and flows of information and price discovery between those markets. Results indicate that London was the dominant market and pricing leader of silver throughout this
period. Further evidence suggests that there existed dynamic information flows both within years
and decades. These phenomena can be explained due to the use of silver for agricultural market
payments and international silver production flows respectively.
Item Type:
Article (Published)
Refereed:
Yes
Additional Information:
Article number: 101626
Uncontrolled Keywords:
Silver; Price discovery; Information flows; Historical data