Type
Working paper
Title
The Ties that Divide: A Network Analysis of the International Monetary System, 1890-1910
In
CEPR Discussion paper
Collection
CEPR Discussion paper : n°5129
Keywords
key currency, international monetary system
Abstract
EN
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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