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Where was the global price of silver established? Evidence from London and New York (1878-1953)

Corbet, Shaen orcid logoORCID: 0000-0001-7430-7417 and O'Connor, Fergal orcid logoORCID: 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)
Additional Information:Article number: 101626
Uncontrolled Keywords:Silver; Price discovery; Information flows; Historical data
Subjects:Business > Finance
DCU Faculties and Centres:DCU Faculties and Schools > DCU Business School
Official URL:https://dx.doi.org/10.1016/j.frl.2020.101626
Copyright Information:© 2020 The Authors. Open Access
ID Code:25908
Deposited On:27 May 2021 12:36 by Thomas Murtagh . Last Modified 10 Jan 2023 15:17

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