The Ties that Divide. A Network Analysis of the International Monetary System
This 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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|Date of creation:||Jul 2005|
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- Luis CatÃ£o & Solomos Solomou, 2003. "Exchange Rates in the Periphery and International Adjustment Under the Gold Standard," IMF Working Papers 03/41, International Monetary Fund.
- Flandreau, Marc & Sussman, Nathan, 2004. "Old Sins: Exchange Rate Clauses and European Foreign Lending in the 19th Century," CEPR Discussion Papers 4248, C.E.P.R. Discussion Papers.
- Michael P. Dooley & David Folkerts-Landau & Peter Garber, 2003.
"An Essay on the Revived Bretton Woods System,"
NBER Working Papers
9971, National Bureau of Economic Research, Inc.
- Marc Flandreau & John Komlos, 2005. "Target zones in History and Theory : efficiency, credibility and policy autonomy," Sciences Po publications n°5199, Sciences Po.
- Marc Flandreau & Nathan Sussman, 2004. "Old sins. Exchange Clauses and European Foreign Lending in the 19th Century," Sciences Po publications n°4248, Sciences Po.
- repec:spo:wpecon:info:hdl:2441/324 is not listed on IDEAS
- Hartmann,Philipp, 2007.
"Currency Competition and Foreign Exchange Markets,"
Cambridge University Press, number 9780521046930.
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