Olivier Accominotti
Biographic Data
| ID | 1139722 |
|---|---|
| NAME | Olivier Accominotti |
| GIVEN NAMES | Olivier |
| FAMILY NAME | Accominotti |
| SIGNATURE | ACCOMINOTTI O |
| AFFILIATIONS | London School of Economics and Political Science |
| VERIFIED | No |
| TOTAL WORKS | 10 |
| TOTAL CITATIONS | 67 |
| AUTHOR COUNT | 10 |
| EDITOR COUNT | 0 |
| FIRST PUBLICATION YEAR | 2008 |
| LATEST PUBLICATION YEAR | 2021 |
| H-INDEX | 5 |
The origination and distribution of money market instruments: Sterling Bills of Exchange During the First Globalization
This article presents a detailed analysis of how liquid money market instruments-sterling bills of exchange-were produced during the first globalization. We rely on a unique dataset that reports systematic information on all 23,493 bills re-discounted by the Bank of England in the year 1906. Using descriptive statistics and network analysis, we reconstruct the complete network of linkages between agents involved in the origination and distributio…
International banking and transmission of the 1931 financial crisis
In May to July 1931, a series of financial panics shook central Europe before spreading to the rest of the world. This article explores the role of cross-border banking linkages in propagating the central European crisis to Britain and the US. Using archival bank-level data, the article documents US and British banks' exposure to central European frozen credits in 1931. Central European lending was mostly done by large and diversified commercial …
If You're So Smart: John Maynard Keynes and Currency Speculation in the Interwar Years
This article explores the risks and returns to currency speculation during the 1920s and 1930s. We study the performance of two well-knowntechnicaltrading strategies (carry and momentum) and compare them with that of afundamentals-basedtrader: John Maynard Keynes. Technical strategies were highly profitable during the 1920s and even outperformed Keynes. In the 1930s, however, both technical strategies and Keynes performed relatively poorly. While…
The mother of all sudden stops: Capital flows and reversals in E urope, 1919–32
New data documenting E uropean bond issues in major financial centres from 1919 to 1932 show that conditions in international capital markets and not just in borrowing countries are important for explaining the surge and reversal in capital flows. In particular, the sharp increase in stock market volatility in the major financial centres at the end of the 1920s figured importantly in the decline in foreign lending. This article draws parallels wi…
London Merchant Banks, the Central European Panic, and the Sterling Crisis of 1931
The Central European panic of the spring 1931 is often presented as a cause of the sterling crisis of September. But what was the transmission channel? This article explores how the continent's financial troubles affected Britain's banking system. The freeze of Central European assets created a liquidity strain for London merchant banks because they had accepted (guaranteed) the commercial bills of German merchants. I use new balance sheet data t…
Summaries of Doctoral Dissertations
Over more than eight decades, the international monetary and financial
The spread of empire: Clio and the measurement of colonial borrowing costs1
Modern cliometric studies use dummy variables to measure the effects of institutions. The dummy variable approach can be misleading, as illustrated by recent research on the impact of colonial rule on borrowing terms. We show how trying to measure a ‘colonial effect’ without an analysis of the financial consequences of political subjection can be misleading. The main effect of the British Empire was to remove the default risk. Establishing how th…
The creation and destruction of value: The globalization cycle - By Harold James
La defense du travail national? L'incidence du protectionnisme sur l'industrie en Europe (1870–1914) – By Jean‐Pierre Dormois
Bilateral Treaties and The Most-Favored-Nation Clause: The Myth of Trade Liberalization in the Nineteenth Century
Textbook accounts of the Anglo-French trade agreement of 1860 argue that it heralded the beginning of a liberal trading order. This alleged success holds much interest from a modern policy point of view, for it rested on bilateral negotiations and most-favored-nation clauses. With the help of new data on international trade (the RICardo database), the authors provide empirical evidence and find that the treaty and subsequent network of MFN trade …
London Merchant Banks, the Central European Panic, and the Sterling Crisis of 1931
The Central European panic of the spring 1931 is often presented as a cause of the sterling crisis of September. But what was the transmission channel? This article explores how the continent's financial troubles affected Britain's banking system. The freeze of Central European assets created a liquidity strain for London merchant banks because they had accepted (guaranteed) the commercial bills of German merchants. I use new balance sheet data t…
Bilateral Treaties and The Most-Favored-Nation Clause: The Myth of Trade Liberalization in the Nineteenth Century
Textbook accounts of the Anglo-French trade agreement of 1860 argue that it heralded the beginning of a liberal trading order. This alleged success holds much interest from a modern policy point of view, for it rested on bilateral negotiations and most-favored-nation clauses. With the help of new data on international trade (the RICardo database), the authors provide empirical evidence and find that the treaty and subsequent network of MFN trade …
The mother of all sudden stops: Capital flows and reversals in E urope, 1919–32
New data documenting E uropean bond issues in major financial centres from 1919 to 1932 show that conditions in international capital markets and not just in borrowing countries are important for explaining the surge and reversal in capital flows. In particular, the sharp increase in stock market volatility in the major financial centres at the end of the 1920s figured importantly in the decline in foreign lending. This article draws parallels wi…
The spread of empire: Clio and the measurement of colonial borrowing costs1
Modern cliometric studies use dummy variables to measure the effects of institutions. The dummy variable approach can be misleading, as illustrated by recent research on the impact of colonial rule on borrowing terms. We show how trying to measure a ‘colonial effect’ without an analysis of the financial consequences of political subjection can be misleading. The main effect of the British Empire was to remove the default risk. Establishing how th…
The origination and distribution of money market instruments: Sterling Bills of Exchange During the First Globalization
This article presents a detailed analysis of how liquid money market instruments-sterling bills of exchange-were produced during the first globalization. We rely on a unique dataset that reports systematic information on all 23,493 bills re-discounted by the Bank of England in the year 1906. Using descriptive statistics and network analysis, we reconstruct the complete network of linkages between agents involved in the origination and distributio…
If You're So Smart: John Maynard Keynes and Currency Speculation in the Interwar Years
This article explores the risks and returns to currency speculation during the 1920s and 1930s. We study the performance of two well-knowntechnicaltrading strategies (carry and momentum) and compare them with that of afundamentals-basedtrader: John Maynard Keynes. Technical strategies were highly profitable during the 1920s and even outperformed Keynes. In the 1930s, however, both technical strategies and Keynes performed relatively poorly. While…
International banking and transmission of the 1931 financial crisis
In May to July 1931, a series of financial panics shook central Europe before spreading to the rest of the world. This article explores the role of cross-border banking linkages in propagating the central European crisis to Britain and the US. Using archival bank-level data, the article documents US and British banks' exposure to central European frozen credits in 1931. Central European lending was mostly done by large and diversified commercial …
Bilateral Treaties and The Most-Favored-Nation Clause: The Myth of Trade Liberalization in the Nineteenth Century
Textbook accounts of the Anglo-French trade agreement of 1860 argue that it heralded the beginning of a liberal trading order. This alleged success holds much interest from a modern policy point of view, for it rested on bilateral negotiations and most-favored-nation clauses. With the help of new data on international trade (the RICardo database), the authors provide empirical evidence and find that the treaty and subsequent network of MFN trade …
La defense du travail national? L'incidence du protectionnisme sur l'industrie en Europe (1870–1914) – By Jean‐Pierre Dormois
The creation and destruction of value: The globalization cycle - By Harold James
The spread of empire: Clio and the measurement of colonial borrowing costs1
Modern cliometric studies use dummy variables to measure the effects of institutions. The dummy variable approach can be misleading, as illustrated by recent research on the impact of colonial rule on borrowing terms. We show how trying to measure a ‘colonial effect’ without an analysis of the financial consequences of political subjection can be misleading. The main effect of the British Empire was to remove the default risk. Establishing how th…
London Merchant Banks, the Central European Panic, and the Sterling Crisis of 1931
The Central European panic of the spring 1931 is often presented as a cause of the sterling crisis of September. But what was the transmission channel? This article explores how the continent's financial troubles affected Britain's banking system. The freeze of Central European assets created a liquidity strain for London merchant banks because they had accepted (guaranteed) the commercial bills of German merchants. I use new balance sheet data t…
Summaries of Doctoral Dissertations
Over more than eight decades, the international monetary and financial
The mother of all sudden stops: Capital flows and reversals in E urope, 1919–32
New data documenting E uropean bond issues in major financial centres from 1919 to 1932 show that conditions in international capital markets and not just in borrowing countries are important for explaining the surge and reversal in capital flows. In particular, the sharp increase in stock market volatility in the major financial centres at the end of the 1920s figured importantly in the decline in foreign lending. This article draws parallels wi…
If You're So Smart: John Maynard Keynes and Currency Speculation in the Interwar Years
This article explores the risks and returns to currency speculation during the 1920s and 1930s. We study the performance of two well-knowntechnicaltrading strategies (carry and momentum) and compare them with that of afundamentals-basedtrader: John Maynard Keynes. Technical strategies were highly profitable during the 1920s and even outperformed Keynes. In the 1930s, however, both technical strategies and Keynes performed relatively poorly. While…
International banking and transmission of the 1931 financial crisis
In May to July 1931, a series of financial panics shook central Europe before spreading to the rest of the world. This article explores the role of cross-border banking linkages in propagating the central European crisis to Britain and the US. Using archival bank-level data, the article documents US and British banks' exposure to central European frozen credits in 1931. Central European lending was mostly done by large and diversified commercial …
The origination and distribution of money market instruments: Sterling Bills of Exchange During the First Globalization
This article presents a detailed analysis of how liquid money market instruments-sterling bills of exchange-were produced during the first globalization. We rely on a unique dataset that reports systematic information on all 23,493 bills re-discounted by the Bank of England in the year 1906. Using descriptive statistics and network analysis, we reconstruct the complete network of linkages between agents involved in the origination and distributio…
Economics (7 works) · Political science (6 works) · Computer Science (4 works) · Financial system (4 works) · Global Financial Crisis and Policies (4 works) · Law (4 works) · Banking stability, regulation, efficiency (3 works) · Business (3 works) · Finance (3 works) · Finance (3 works)