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What led to Black Wednesday in the 1990s?
capella234
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What led to Black Wednesday in the 1990s?
What led to Black Wednesday in the 1990s?
Textbook
Macroeconomics
Edition:
3
rd
Authors:
Acemoglu, Laibson, List
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Black Wednesday refers to an event during which the pound suddenly crashed in value. It occurred because the pound was overvalued against the German mark, and this prolonged overvaluation of the pound caused the government to sharply devalue the currency when the government ran out of German mark reserves.
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capella234
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this is exactly what I needed
hpascoe
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Good timing,
thanks!
Transonic
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This site is awesome
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