A dissonant violin in the international orchestra? Discount rate policy in Italy (1894-1913)
Author
Abstract
Suggested Citation
Download full text from publisher
Other versions of this item:
- Paolo Di Martino & Fabio C. Bagliano, 2022. "A dissonant violin in the international orchestra? Discount rate policy in Italy (1894-1913)," Carlo Alberto Notebooks 682 JEL Classification: N, Collegio Carlo Alberto.
References listed on IDEAS
- Marc Flandreau & Clemens Jobst, 2005.
"The Ties that Divide: A Network Analysis of the International Monetary System, 1890-1910,"
Working Papers
hal-01065599, HAL.
- Marc Flandreau & Clemens Jobst, 2005. "The Ties that Divide: A Network Analysis of the International Monetary System, 1890-1910," Sciences Po publications n°5129, Sciences Po.
- Marc Flandreau & Clemens Jobst, 2005. "The Ties that Divide : a Network Analysis of the International Monetary System, 1890-1910," SciencePo Working papers Main hal-03416103, HAL.
- Marc Flandreau & Clemens Jobst, 2005. "The Ties that Divide : a Network Analysis of the International Monetary System, 1890-1910," Post-Print hal-03416103, HAL.
- Eichengreen, Barry, 1987. "Conducting the international orchestra: Bank of England leadership under the classical gold standard," Journal of International Money and Finance, Elsevier, vol. 6(1), pages 5-29, March.
- Davutyan, Nurhan & Parke, William R, 1995. "The Operations of the Bank of England, 1890-1908: A Dynamic Probit Approach," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 27(4), pages 1099-1112, November.
- Giuseppe Tullio & Jürgen Wolters, 2007.
"Monetary Policy in Austria–Hungary, 1876–1913: An Econometric Analysis of the Determinants of the Central Bank’s Discount Rate and the Liquidity Ratio,"
Open Economies Review, Springer, vol. 18(5), pages 521-537, November.
- Tullio, Guiseppe & Wolters, Jürgen, 2004. "Monetary policy in Austria-Hungary, 1876 - 1913: An econometric analysis of the determinants of the Central Bank's discount rate and the liquidity ratio," Discussion Papers 2004/24, Free University Berlin, School of Business & Economics.
- Bazot, Guillaume & Monnet, Eric & Morys, Matthias, 2022.
"Taming the Global Financial Cycle: Central Banks as Shock Absorbers in the First Era of Globalization,"
The Journal of Economic History, Cambridge University Press, vol. 82(3), pages 801-839, September.
- Guillaume Bazot & Eric Monnet & Matthias Morys, 2022. "Taming the Global Financial Cycle: Central Banks as Shock Absorbers in the First Era of Globalization," PSE-Ecole d'économie de Paris (Postprint) halshs-03761862, HAL.
- Guillaume Bazot & Eric Monnet & Matthias Morys, 2022. "Taming the Global Financial Cycle: Central Banks as Shock Absorbers in the First Era of Globalization," Post-Print halshs-03761862, HAL.
- Jobst, Clemens, 2009. "Market leader: the Austro-Hungarian Bank and the making of foreign exchange intervention, 1896–1913," European Review of Economic History, Cambridge University Press, vol. 13(3), pages 287-318, December.
- Tattara, Giuseppe, 2003.
"Paper money but a gold debt: Italy on the gold standard,"
Explorations in Economic History, Elsevier, vol. 40(2), pages 122-142, April.
- Giuseppe Tattara & or consequences), 2002. "Paper Money but a Gold Debt. Italy in the Gold Standard," Economic History 0205002, University Library of Munich, Germany.
- Bazot, Guillaume & Bordo, Michael D. & Monnet, Eric, 2016.
"International shocks and the balance sheet of the Bank of France under the classical gold standard,"
Explorations in Economic History, Elsevier, vol. 62(C), pages 87-107.
- Guillaume Bazot & Michael Bordo & Eric Monnet, 2016. "International shocks and the balance sheet of the Bank of France under the classical gold standard," Post-Print hal-04288225, HAL.
- repec:hal:spmain:info:hdl:2441/605 is not listed on IDEAS
- Flandreau, Marc & Jobst, Clemens, 2005. "The Ties that Divide: A Network Analysis of the International Monetary System, 1890–1910," The Journal of Economic History, Cambridge University Press, vol. 65(4), pages 977-1007, December.
- Morys, Matthias, 2013. "Discount rate policy under the Classical Gold Standard: Core versus periphery (1870s–1914)," Explorations in Economic History, Elsevier, vol. 50(2), pages 205-226.
- Tullio, Giuseppe & Wolters, Jurgen, 1996. "Was London the Conductor of the International Orchestra or Just the Triangle Player? An Empirical Analysis of Asymmetries in Interest Rate Behaviour during the Classical Gold Standard, 1876-1913," Scottish Journal of Political Economy, Scottish Economic Society, vol. 43(4), pages 419-443, September.
- repec:hal:wpspec:info:hdl:2441/605 is not listed on IDEAS
- Flandreau, Marc & Jobst, Clemens, 2005. "The Ties that Divide. A Network Analysis of the International Monetary System," CEPR Discussion Papers 5129, C.E.P.R. Discussion Papers.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Morys, Matthias, 2013. "Discount rate policy under the Classical Gold Standard: Core versus periphery (1870s–1914)," Explorations in Economic History, Elsevier, vol. 50(2), pages 205-226.
- Michael D. Bordo & Christopher M. Meissner, 2007.
"Financial Crises, 1880-1913: The Role of Foreign Currency Debt,"
NBER Chapters, in: The Decline of Latin American Economies: Growth, Institutions, and Crises, pages 139-194,
National Bureau of Economic Research, Inc.
- Michael Bordo & Christopher Meissner, 2005. "Financial Crises, 1880-1913: The Role of Foreign Currency Debt," NBER Working Papers 11173, National Bureau of Economic Research, Inc.
- Christopher M Meissner & Michael D Bordo, 2006. "Financial Crises, 1880-1913: The Role of Foreign Currency Debt," WEF Working Papers 0002, ESRC World Economy and Finance Research Programme, Birkbeck, University of London.
- 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,"
Working Papers
0007, European Historical Economics Society (EHES).
- 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.
- Flandreau, Marc & Ugolini, Stefano, 2011. "Where It All Began: Lending of Last Resort and the Bank of England during the Overend, Gurney Panic of 1866," CEPR Discussion Papers 8362, C.E.P.R. Discussion Papers.
- 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," Working Paper 2011/03, Norges Bank.
- Lennard, Jason, 2018.
"Did monetary policy matter? Narrative evidence from the classical gold standard,"
Explorations in Economic History, Elsevier, vol. 68(C), pages 16-36.
- Lennard, Jason, 2017. "Did Monetary Policy Matter? Narrative Evidence from the Classical Gold Standard," Lund Papers in Economic History 155, Lund University, Department of Economic History.
- Marc Flandreau & Stefano Ugolini, 2013. "Where It All Began: Lending of Last Resort and Bank of England Monitoring During the Overend-Gurney Panic of 1866," Post-Print hal-01293916, HAL.
- Olivier Accominotti & Delio Lucena‐Piquero & Stefano Ugolini, 2021.
"The origination and distribution of money market instruments: sterling bills of exchange during the first globalization,"
Economic History Review, Economic History Society, vol. 74(4), pages 892-921, November.
- Accominotti, Olivier & Lucena, Delio & Ugolini, Stefano, 2019. "The Origination and Distribution of Money Market Instruments: Sterling Bills of Exchange during the First Globalisation," CEPR Discussion Papers 14058, C.E.P.R. Discussion Papers.
- Accominotti, Olivier & Lucena-Piquero, Delio & Ugolini, Stefano, 2021. "The origination and distribution of money market instruments: sterling bills of exchange during the first globalization," LSE Research Online Documents on Economics 107104, London School of Economics and Political Science, LSE Library.
- Olivier Accominotti & Delio Lucena-Piquero & Stefano Ugolini, 2021. "The Origination and Distribution of Money Market Instruments: Sterling Bills of Exchange during the First Globalization," Papers 2103.01558, arXiv.org.
- Olivier Accominotti & Delio Lucena-Piquero & Stefano Ugolini, 2021. "The Origination and Distribution of Money Market Instruments: Sterling Bills of Exchange during the First Globalization," Post-Print hal-03155017, HAL.
- Bazot, Guillaume & Monnet, Eric & Morys, Matthias, 2019. "Taming the gobal financial cycle: Central banks and the sterilization of capital flows in the first era of globalization," IBF Paper Series 03-19, IBF – Institut für Bank- und Finanzgeschichte / Institute for Banking and Financial History, Frankfurt am Main.
- Marc Flandreau & Clemens Jobst, 2006.
"The Empirics of International Currencies: Evidence from the 19th Century,"
Sciences Po publications
n°5529, Sciences Po.
- Marc Flandreau & Clemens Jobst, 2006. "The Empirics of International Currencies: Evidence from the 19th Century," Working Papers hal-01065631, HAL.
- Arola, Mika, 2006. "Foreign capital and Finland: central government's firstperiod of reliance on international financial markets 1862-1938," Bank of Finland Scientific Monographs, Bank of Finland, volume 0, number sm2006_037.
- Nils Herger, 2016. "Interest parity conditions during the classical gold standard (1880 -1914) - Evidence from the investment demand for bills of exchange in Europe," Discussion Papers 1607, University of Exeter, Department of Economics.
- Kramer, Bert S. & Milionis, Petros, 2022.
"Democratic constraints and adherence to the classical gold standard,"
Explorations in Economic History, Elsevier, vol. 84(C).
- Kramer, Bert S. & Milionis, Petros, 2018. "Democratic Constraints and Adherence to the Classical Gold Standard," GGDC Research Memorandum GD-175, Groningen Growth and Development Centre, University of Groningen.
- Akerman, Anders & Seim, Anna Larsson, 2014.
"The global arms trade network 1950–2007,"
Journal of Comparative Economics, Elsevier, vol. 42(3), pages 535-551.
- Akerman, Anders & Larsson, Anna, 2010. "The Global Arms Trade Network 1950-2007," Research Papers in Economics 2010:2, Stockholm University, Department of Economics.
- Anna Larsson Seim & Anders Akerman, 2012. "The Global Arms Trade Network 1950-2007," DEGIT Conference Papers c017_055, DEGIT, Dynamics, Economic Growth, and International Trade.
- Mariko Hatase & Mototsugu Shintani & Tomoyoshi Yabu, 2013. "Great earthquakes, exchange rate volatility and government interventions," Vanderbilt University Department of Economics Working Papers 13-00007, Vanderbilt University Department of Economics.
- Monnet, Eric & Velde, François R., 2020.
"Money, Banking, and Old-School Historical Economics,"
CEPR Discussion Papers
15348, C.E.P.R. Discussion Papers.
- Eric Monnet & Francois R. Velde, 2020. "Money, Banking, and Old-School Historical Economics," Working Paper Series WP-2020-28, Federal Reserve Bank of Chicago.
- Eric Monnet & François Velde, 2021. "Money, banking, and old-school historical economics," PSE-Ecole d'économie de Paris (Postprint) halshs-03231083, HAL.
- Eric Monnet & François Velde, 2021. "Money, banking, and old-school historical economics," Post-Print halshs-03231083, HAL.
- Nogues-Marco, Pilar, 2017.
"Money Markets and Exchange Rates in Pre-Industrial Europe,"
Working Papers
unige:100808, University of Geneva, Paul Bairoch Institute of Economic History.
- Nogues-Marco, Pilar, 2018. "Money Markets and Exchange Rates in Pre-Industrial Europe," CEPR Discussion Papers 13372, C.E.P.R. Discussion Papers.
- Mauricio Drelichman & Hans‐Joachim Voth, 2011.
"Lending to the Borrower from Hell: Debt and Default in the Age of Philip II,"
Economic Journal, Royal Economic Society, vol. 121(557), pages 1205-1227, December.
- Drelichman, Mauricio & Voth, Hans-Joachim, 2008. "Lending to the Borrower from Hell: Debt and Default in the Age of Phillip II," Economics working papers mauricio_drelichman-2008-, Vancouver School of Economics, revised 06 Sep 2010.
- Prasanna Gai & Gavin Cameron & Kang Yong Tan, 2009.
"Sovereign Risk in the Classical Gold Standard Era,"
The Economic Record, The Economic Society of Australia, vol. 85(271), pages 401-416, December.
- Gavin Cameron & Prasanna Gai & Kang Yong Tan, 2006. "Sovereign Risk In The Classical Gold Standard Era," CAMA Working Papers 2006-11, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
- Gavin Cameron & Kang Yong Tan & Prasanna Gai & Â, 2006. "Sovereign Risk in the Classical Gold Standard Era," Economics Series Working Papers 258, University of Oxford, Department of Economics.
- Stefano Ugolini, 2011.
"Foreign exchange reserve management in the 19th century: The National Bank of Belgium in the 1850s,"
Working Paper
2011/07, Norges Bank.
- Stefano Ugolini, 2012. "Foreign Exchange Reserve Management in the 19 th Century: The National Bank of Belgium in the 1850s," Post-Print hal-01293720, HAL.
- Accominotti, Olivier & Ugolini, Stefano, 2019.
"International Trade Finance From the Origins to the Present: Market Structures, Regulation, and Governance,"
CEPR Discussion Papers
13661, C.E.P.R. Discussion Papers.
- Olivier Accominotti & Stefano Ugolini, 2020. "International Trade Finance from the Origins to the Present: Market Structures, Regulation and Governance," Papers 2009.08668, arXiv.org.
- Olivier Accominotti & Stefano Ugolini, 2020. "International Trade Finance from the Origins to the Present: Market Structures, Regulation and Governance," Post-Print hal-02941654, HAL.
- Marc Flandreau & Clemens Jobst, 2009.
"The Empirics of International Currencies: Network Externalities, History and Persistence,"
Economic Journal, Royal Economic Society, vol. 119(537), pages 643-664, April.
- Marc Flandreau & Clemens Jobst, 2009. "The Empirics of International Currencies: Network Externalities, History and Persistence," Economic Journal, Royal Economic Society, vol. 119(537), pages 643-664, April.
More about this item
Keywords
Bank of Italy; Discount Rate Policy; International Gold Standard; Sterilization;All these keywords.
JEL classification:
- N13 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: Pre-1913
- N23 - Economic History - - Financial Markets and Institutions - - - Europe: Pre-1913
- E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
- F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
NEP fields
This paper has been announced in the following NEP Reports:- NEP-BAN-2022-10-31 (Banking)
- NEP-HIS-2022-10-31 (Business, Economic and Financial History)
- NEP-MON-2022-10-31 (Monetary Economics)
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:tur:wpapnw:077. See general information about how to correct material in RePEc.
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 CitEc recognized a bibliographic reference but did not link an item in RePEc 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Daniele Pennesi (email available below). General contact details of provider: https://edirc.repec.org/data/dstorit.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.