The Floating Dollar in the Greenback Period: A Test of Theories of Exchange-Rate Determination
检验了多种汇率决定理论，发现加入利率和收入效应的购买力平价理论最能解释1862-1878年美国绿背纸币时期美元的浮动汇率，并修正了该时期的经典研究。
Some leading modern theories of exchange-rate determination are pitted against each other in explaining fundamental movements of the freely floating U.S. dollar in the foreign-exchange market during the greenback period, 1862–1878. A purchasing-power-parity theory augmented to incorporate interest-rate, and possibly income, effects provides the best explanation of the exchange rate. The standard works on the greenback period are subject to some amendments in light of the study.