Livia Chitu
Biographic Data
| ID | 3097542 |
|---|---|
| NAME | Livia Chitu |
| GIVEN NAMES | Livia |
| FAMILY NAME | Chitu |
| SIGNATURE | CHITU L |
| AFFILIATIONS | European Central Bank |
| ORCID | 0000-0002-8818-6262 |
| VERIFIED | Yes |
| TOTAL WORKS | 4 |
| TOTAL CITATIONS | 6 |
| AUTHOR COUNT | 4 |
| EDITOR COUNT | 0 |
| FIRST PUBLICATION YEAR | 2013 |
| LATEST PUBLICATION YEAR | 2021 |
| H-INDEX | 2 |
Mars or Mercury redux
We analyse the role of economic and security considerations in bilateral trade agreements. We use the pre‐World War I period to test whether trade agreements are governed by standard gravity variables, or by instead—or in addition—geopolitical factors. While we like others find support for standard gravity variables, we also find that defence pacts boost the probability of trade agreements by as much as 20 percentage points. Our estimates imply t…
Network effects, homogeneous goods and international currency choice
Conventional wisdom has it that network effects are strong in markets for homogenous goods, leading to the dominance of one settlement currency in such markets. The dominance of the US dollar in global oil markets is said to epitomize this phenomenon. We question this presumption with evidence for earlier periods showing that several national currencies have simultaneously played substantial roles in global oil markets. European oil import paymen…
Mutual Assistance between Federal Reserve Banks
This article reconstructs the history of mutual assistance among Federal Reserve Banks. We present data on accommodation operations through which Reserve Banks mutualized gold reserves in emergency situations between 1913 and 1960. Reserve sharing was important in response to liquidity crises and bank runs. Such cooperation was essential for the cohesion of the U.S. monetary union. But fortunes could change, with emergency recipients of gold beco…
When did the dollar overtake sterling as the leading international currency? Evidence from the bond markets
When did the dollar overtake sterling as the leading international currency? Evidence from the bond markets
Mutual Assistance between Federal Reserve Banks
This article reconstructs the history of mutual assistance among Federal Reserve Banks. We present data on accommodation operations through which Reserve Banks mutualized gold reserves in emergency situations between 1913 and 1960. Reserve sharing was important in response to liquidity crises and bank runs. Such cooperation was essential for the cohesion of the U.S. monetary union. But fortunes could change, with emergency recipients of gold beco…
When did the dollar overtake sterling as the leading international currency? Evidence from the bond markets
Mutual Assistance between Federal Reserve Banks
This article reconstructs the history of mutual assistance among Federal Reserve Banks. We present data on accommodation operations through which Reserve Banks mutualized gold reserves in emergency situations between 1913 and 1960. Reserve sharing was important in response to liquidity crises and bank runs. Such cooperation was essential for the cohesion of the U.S. monetary union. But fortunes could change, with emergency recipients of gold beco…
Network effects, homogeneous goods and international currency choice
Conventional wisdom has it that network effects are strong in markets for homogenous goods, leading to the dominance of one settlement currency in such markets. The dominance of the US dollar in global oil markets is said to epitomize this phenomenon. We question this presumption with evidence for earlier periods showing that several national currencies have simultaneously played substantial roles in global oil markets. European oil import paymen…
Mars or Mercury redux
We analyse the role of economic and security considerations in bilateral trade agreements. We use the pre‐World War I period to test whether trade agreements are governed by standard gravity variables, or by instead—or in addition—geopolitical factors. While we like others find support for standard gravity variables, we also find that defence pacts boost the probability of trade agreements by as much as 20 percentage points. Our estimates imply t…
Economics (4 works) · International economics (4 works) · Monetary economics (3 works) · Currency (2 works) · Devaluation (2 works) · Finance (2 works) · Financial system (2 works) · Global Financial Crisis and Policies (2 works) · Liberian dollar (2 works) · Market Dynamics and Volatility (2 works)