137 research outputs found
Mixing Kohonen Algorithm, Markov Switching Model and Detection of Multiple Change-Points: An Application to Monetary History
The present paper aims at locating the breakings of the integration process of an international system observed during about 50 years in the 19th century. A historical study could link them to special events, which operated as exogenous shocks on this process. The indicator of integration used is the spread between the highest and the lowest among the London, Hamburg and Paris gold-silver prices. Three algorithms are combined to study this integration: a periodization obtained with the SOM algorithm is confronted to the estimation of a two-regime Markov switching model, in order to give an interpretation of the changes of regime; in the same time change-points are identified over the whole period providing a more precise interpretation of the various types of regulation.
Les arbitrages sur les changes et les métaux précieux entre Londres, Paris et Hambourg (1821-1873) : les serpents bimétalliques
Utilisant une base de cent mille données, l’article étudie comment les taux de change entre la livre anglaise, le franc français et le mark banco de Hambourg ont été contraints de 1821 à 1873 par des « serpents bimétalliques » formés par les points d’or et d’argent. Il diffère des études antérieures par l’ajout de Hambourg aux places de Londres et Paris et par la mise en évidence d’une plage d’arbitrage sur métaux. Il montre une répartition permanente des rôles : Hambourg absorbait le métal venant de Paris, avec Londres comme intermédiaire. Cela suggère l’existence d’un système bimétallique européen, articulant trois zones, respectivement à étalon-argent, à double étalon et à étalon-or.Using a database of 100,000 quotations, this paper studies how exchange rates between the British pound sterling, the French franc and the Hamburg mark banco were constrained from 1821 to 1873 by “bimetallic snakes” made up of gold and silver points. It differs from previous studies in that it adds Hamburg to the financial centres of London and Paris, and highlights the range of precious metals arbitrage. It shows a permanent distribution of roles: Hamburg absorbed bullion from Paris, with London acting as intermediary. This suggests the existence of a European bimetallic system linking three zones, one zone being silver standard, one double standard, and one gold standard
On the Life History of Wireworms of the Genus Agriotes, Esch., with Some notes on that of Athous Haemorrhoidalis, F. Part II
RESP-30
On the Centrality of Redemption: Linking the State and Credit Theories of Money Through a Financial Approach to Money
The economics of debt clearing mechanisms
We examine the evolution of decentralized clearinghouse mechanisms from the
13th to the 18th century; in particular, we explore the clearing of non- or
limitedtradable debts like bills of exchange. We construct a theoretical model
of these clearinghouse mechanisms, similar to the models in the theoretical
matching literature, and show that specific decentralized multilateral
clearing algorithms known as rescontre, skontrieren or virement des parties
used by merchants were efficient in specific historical contexts. We can
explain both the evolutionary self-organizing emergence of late medieval and
early modern fairs, and its robustness during the 17th and 18th century
Moeurs et métamorphoses des insectes (dixième mémoire)
Xambeu . Moeurs et métamorphoses des insectes (dixième mémoire). In: Annales de la Société linnéenne de Lyon, tome 46, Année 1899. 1900. pp. 1-72
Organes visuels des Coléoptères cavernicoles
Xambeu P. Organes visuels des Coléoptères cavernicoles. In: Bulletin de la Société entomologique de France, volume 11 (15),1906. pp. 205-206
Moeurs et métamorphoses des insectes (Elatéridés) 2° fascicule
Xambeu . Moeurs et métamorphoses des insectes (Elatéridés) 2° fascicule. In: Annales de la Société linnéenne de Lyon, tome 60, Année 1913. 1914. pp. 1-34
Moeurs et métamorphoses des insectes: 16 ème mémoire, 4e Fascicule
Xambeu . Moeurs et métamorphoses des insectes: 16 ème mémoire, 4e Fascicule . In: Annales de la Société linnéenne de Lyon, tome 62, Année 1915. 1916. pp. 25-42
Moeurs et métamorphoses des insectes (suite)
Xambeu . Moeurs et métamorphoses des insectes (suite). In: Annales de la Société linnéenne de Lyon, tome 49, Année 1902. 1903. pp. 95-160
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