| Period | Exchange Rate Regime | U.K. PC Slope | t-stat | Adj. R2 |
|---|---|---|---|---|
| 1780-1860 | Silver / Gold Standard | -0.33** | -2.6 | 5.2% |
| 1861-1913 | Gold Standard | -0.79*** | -7.1 | 48.4% |
| 1914-1925 | Suspension | -3.07*** | -6.1 | 76.8% |
| 1926-1944 | Gold Standard | -0.71** | -2.8 | 26% |
| 1945-1967 | Bretton Woods | -2.14*** | -3.0 | 27.6% |
| 1967-2016 | 1967 Deval., Flexible Exchange Rate | -0.47 | -1.5 | 2.7% |
\pagenumbering{gobble}