The currency board monetary system over 100 years in Bermuda (1915-2015)

Abstract. We examine to what extent Bermuda’s monetary authorities have operated like currency boards, using statistical tests based on balance sheets and an analysis of Bermuda’s legislation. Our analysis indicates that in the early 20th century, Bermuda had a currency board system. In later years, problems with analyzing the balance sheet make a judgment based on statistical tests more difficult. We provide a companion spreadsheet workbook of annual or semiannual data of the monetary authority for the past 100 years.Keywords. Bermuda; Currency board.JEL. E58; N16