The Ties that Divide. A Network Analysis of the International Monetary System
AbstractThis paper provides a new methodology to map international monetary relations in the 19th century. We identify an index of international liquidity and, applying techniques borrowed from formal network analysis (in particular, blockmodelling) we produce a formal ranking of currencies according to their degree of international circulation. The resulting indices are powerful tools to study the logic of the emergence of international currencies, as well as useful controls for cross-section regressions.
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Bibliographic InfoPaper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 5129.
Date of creation: Jul 2005
Date of revision:
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Find related papers by JEL classification:
- F31 - International Economics - - International Finance - - - Foreign Exchange
- N32 - Economic History - - Labor and Consumers, Demography, Education, Health, Welfare, Income, Wealth, Religion, and Philanthropy - - - U.S.; Canada: 1913-
This paper has been announced in the following NEP Reports:
- NEP-ALL-2005-08-13 (All new papers)
- NEP-FMK-2005-08-13 (Financial Markets)
- NEP-HIS-2005-08-13 (Business, Economic & Financial History)
- NEP-MON-2005-08-13 (Monetary Economics)
- NEP-NET-2005-08-13 (Network Economics)
- NEP-SEA-2005-08-13 (South East Asia)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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- Marc Flandreau, Stefano Ugolini, 2011. "Where It All Began: Lending of Last Resort and the Bank of England during the Overend, Gurney Panic of 1866," IHEID Working Papers 04-2011, Economics Section, The Graduate Institute of International Studies.
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in: The Decline of Latin American Economies: Growth, Institutions, and Crises, pages 139-194
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- Barry Eichengreen & Marc Flandreau, 2010. "The Federal Reserve, the Bank of England and the rise of the dollar as an international currency, 1914-39," BIS Working Papers 328, Bank for International Settlements.
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"The Federal Reserve, the Bank of England, and the Rise of the Dollar as an International Currency, 1914–1939,"
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