A Social Network for Trade and Inventories of Stock during the South Sea Bubble
A social network of stock trading is defined for the notorious South Sea Bubble of 1720. It is a flow network defined in terms of pass-through and core pass-through, which have convenient properties with respect to inventories. These are all useful concepts when examining a liquidity crisis, financial intermediation and the changing social structure of trade. We find that there may have been a liquidity crisis suffered by goldsmith bankers before the Bubble, a gradual path towards dis-intermediation after the Bubble and a switch from intermediation based upon brokerage to intermediation based upon dealership.
|Date of creation:||15 Jul 2011|
|Contact details of provider:|| Postal: School of Economics and Finance, University of St. Andrews, Fife KY16 9AL|
Phone: 01334 462436
Fax: 01334 462444
Web page: https://www.st-andrews.ac.uk/cdma
More information through EDIRC
References listed on IDEAS
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.:
- Markus K. Brunnermeier & Lasse Heje Pedersen, 2009.
"Market Liquidity and Funding Liquidity,"
Review of Financial Studies,
Society for Financial Studies, vol. 22(6), pages 2201-2238, June.
- Brunnermeier, Markus K & Pedersen, Lasse Heje, 2007. "Market Liquidity and Funding Liquidity," CEPR Discussion Papers 6179, C.E.P.R. Discussion Papers.
- Lasse Heje Pederson & Markus K Brunnermeier, 2007. "Market Liquidity and Funding Liquidity," FMG Discussion Papers dp580, Financial Markets Group.
- Markus K. Brunnermeier & Lasse Heje Pedersen, 2007. "Market liquidity and funding liquidity," LSE Research Online Documents on Economics 24478, London School of Economics and Political Science, LSE Library.
- Markus K. Brunnermeier & Lasse Heje Pedersen, 2007. "Market Liquidity and Funding Liquidity," NBER Working Papers 12939, National Bureau of Economic Research, Inc.
- Carole Comerton-Forde & Terrence Hendershott & Charles M. Jones & Pamela C. Moulton & Mark S. Seasholes, 2010. "Time Variation in Liquidity: The Role of Market-Maker Inventories and Revenues," Journal of Finance, American Finance Association, vol. 65(1), pages 295-331, 02.
- Bulow, Jeremy & Klemperer, Paul, 1994. "Rational Frenzies and Crashes," Journal of Political Economy, University of Chicago Press, vol. 102(1), pages 1-23, February.
- Jeremy Bulow & Paul Klemperer, 1991. "Rational Frenzies and Crashes," NBER Technical Working Papers 0112, National Bureau of Economic Research, Inc.
- Bulow, Jeremy I. & Klemperer, Paul, 1991. "Rational Frenzies and Crashes," CEPR Discussion Papers 593, C.E.P.R. Discussion Papers.
- Neal, Larry & Quinn, Stephen, 2001. "Networks of information, markets, and institutions in the rise of London as a financial centre, 1660 1720," Financial History Review, Cambridge University Press, vol. 8(01), pages 7-26, April.
- Andrew Mays & Gary S. Shea, 2011. "East India Company and Bank of England Shareholders during the South Sea Bubble: Partitions, Components and Connectivity in a Dynamic Trading Network," CDMA Working Paper Series 201109, Centre for Dynamic Macroeconomic Analysis.
- Carlos, Ann M. & Neal, Larry, 2011. "Amsterdam and London as financial centers in the eighteenth century," Financial History Review, Cambridge University Press, vol. 18(01), pages 21-46, April.
- Ann M. Carlos & Larry Neal, 2011. "Amsterdam and London as financial centers in the eighteenth century," LSE Research Online Documents on Economics 38799, London School of Economics and Political Science, LSE Library.
- Ann M. Carlos & Larry Neal, 2006. "The micro-foundations of the early London capital market: Bank of England shareholders during and after the South Sea Bubble, 1720-25 -super-1," Economic History Review, Economic History Society, vol. 59(3), pages 498-538, 08.
- Ann Carlos & Karen Maguire & Larry Neal, 2008. "'A knavish people…': London Jewry and the stock market during the South Sea Bubble," Business History, Taylor & Francis Journals, vol. 50(6), pages 728-748.
- James E. Rauch, 2001. "Business and Social Networks in International Trade," Journal of Economic Literature, American Economic Association, vol. 39(4), pages 1177-1203, December. Full references (including those not matched with items on IDEAS)
When requesting a correction, please mention this item's handle: RePEc:san:cdmawp:1110. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (the School of Economics)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.