01627cas a2200253 a 4500 AALejournalIMF001348 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451940565 1018-5941 BD-DhAAL BD-DhAAL Taylor, Mark. Long-Run Purchasing Power Parity and the Dollar-Sterling Exchange Rate in the 1920's / Mark Taylor. Washington, D.C. : International Monetary Fund, 1990. 1 online resource (25 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper replies to Ahking's (1990) re-examination of Taylor and McMahon's (1988) analysis of long-run purchasing power parity in the 1920s. We demonstrate that Ahking's conclusions are only partially correct and reestablish our conclusion that, a form of long-run purchasing-power parity did in fact hold for dollar-sterling during this period. The new results are also employed to gauge the degree of overvaluation of sterling relative to the imposed prewar parity of USD 4.86 upon its return to gold and for 12 months afterwards. Mode of access: Internet United Kingdom imf IMF Working Papers; Working Paper ; No. 1990/118 Full text available on IMF http://elibrary.imf.org/view/journals/001/1990/118/001.1990.issue-118-en.xml IMF e-Library