| Period | Exchange Rate Regime | U.K. PC Slope | t-stat | Adj. R2 |
|---|---|---|---|---|
| 1780-1860 | Silver / Gold Standard | -0.73** | -2.0 | 2.9% |
| 1861-1913 | Gold Standard | -0.63** | -2.6 | 10.1% |
| 1914-1925 | Suspension | -3.02*** | -8.6 | 86.9% |
| 1926-1944 | Gold Standard | -0.68*** | -3.9 | 43% |
| 1945-1967 | Bretton Woods | -1.95* | -1.9 | 11.7% |
| 1967-2016 | 1967 Deval., Flexible Exchange Rate | -0.35 | -1.2 | 0.9% |
\pagenumbering{gobble}