É Monnet

Biographic Data

ID40657
NAMEÉ Monnet
GIVEN NAMESÉ
FAMILY NAMEMonnet
SIGNATUREMONNET É
AFFILIATIONSParis School of Economics
ORCID0000-0003-1445-8883
VERIFIEDYes
TOTAL WORKS54
TOTAL CITATIONS22
AUTHOR COUNT54
EDITOR COUNT0
FIRST PUBLICATION YEAR2007
LATEST PUBLICATION YEAR2026
H-INDEX3

  • Persistence in a changing world: Gold backing and monetary policy autonomy under Bretton Woods

    Open AccessÉ Monnet, Éric MonnetARTICLEThe Economic History Review2026References: 2

    The Bretton Woods system is often described as freeing national monetary policies from the gold‐reserve constraints of the gold standard. Breaking the ‘gold fetters’ was essential to the embedded liberalism and economic interventionism of the post‐war era. Yet gold retained a crucial role: monetary authorities backed currency with gold reserves, both de facto and de jure, frequently maintaining gold cover ratios comparable to those of the gold st…

  • Cryptomercantilism vs. Monetary Sovereignty

    Open AccessJens Van ’t Klooster, Jens van 't Klooster et al.ARTICLESSRN Electronic Journal2025

  • Organiser et financer l’économie de guerre

    Alex Amiotte Suchet, É Monnet et al.ARTICLERegards croisés sur l'économie/Rega…2025References: 2

    Dans cet entretien, Éric Monnet revient sur la manière dont les conflits militaires modifient l’intervention publique et le financement de l’économie. Il montre par quels dispositifs s’organisent les « économies de guerre

  • The Great Expansion: The Exceptional Spread of Bank Branches In Interwar France

    Open AccessEmilie Bonhoure, Hadrien Clausse et al.ARTICLESSRN Electronic Journal2024

  • Do disinflation policies ravage central bank finances

    Open AccessThéodore Humann, Kris James Mitchener et al.ARTICLEEconomic Policy2024

    Advanced-economy central banks are currently experiencing losses. To examine how rate-tightening cycles affect central bank finances, we study the financial statements of ten advanced-economy central banks during the 1970s and 1980s, the most notable and comparable policy environment to the present. We find that central bank profits actually increased in response to the anti-inflationary measures of the 1980s. We thus discuss how central bank pro…

  • Currency internationalization with Chinese characteristics: Is capital‐account convertibility required for the renminbi to acquire reserve‐currency status

    Open AccessBarry Eichengreen, Camille Macaire et al.ARTICLEInternational Finance2024

    It is widely assumed that the renminbi (RMB) cannot acquire a meaningful place in central bank reserve portfolios without full liberalization of China's capital account. We argue that the RMB can in fact develop into an international reserve currency in the absence of capital‐account convertibility. Trade and investment links can drive use despite limited access to Chinese financial markets. But this route to currency internationalization require…

  • The great expansion: The exceptional spread of bank branches in interwar France

    Emilie Bonhoure, Hadrien Clausse et al.ARTICLEBusiness History2024References: 41

    Using newly collected data at the city level between 1910 and 1938, this article shows that, after World War I, France experienced an unprecedented expansion in bank branches mostly due to the creation of temporary branches in rural areas. The banking crisis in early 1930s paused this expansion. Nevertheless, the number of bank branches per capita remained four times higher than before the war. Also, the expansion of bank branches was not associa…

  • Balance of Power: Central Banks and the Fate of Democracies

    É Monnet, Éric Monnet et al.BOOKBalance of Power2024Cited by: 6

  • The Great Depression as a Savings Glut

    Open AccessVictor Degorce, É Monnet et al.ARTICLEThe Journal of Economic History2024

    New data covering 23 countries reveal that banking crises of the Great Depression coincided with a sharp international increase in deposits at savings institutions and life insurance. Deposits fled from commercial banks to alternative forms of savings. This fueled a credit crunch since other institutions did not replace bank lending. While asset prices fell, savings held in savings institutions and life insurance companies increased as a share of…

  • Connected Lending of Last Resort

    Open AccessKris James Mitchener, É Monnet et al.ARTICLESSRN Electronic Journal2023

  • The Power of Coordination and Deliberation

    Open AccessÉ MonnetARTICLEAccounting, Economics, and Law: A…2023

    I provide comments and replies to the seven insightful contributions that discussed “The Democratic Challenge of Central Bank Credit Policies” and the proposal for a European Credit Council. I review how interdisciplinary scholarship on the political economy of central banking have shown the limits of simple principal-agent framework applied to central bank power and legitimacy. I emphasize why a change to central bank independence is not necessa…

  • Connected Lending of Last Resort

    Open AccessKris James Mitchener, É Monnet et al.ARTICLESSRN Electronic Journal2023

  • The Democratic Challenge of Central Bank Credit Policies

    Open AccessÉ Monnet, Éric MonnetARTICLEAccounting, Economics, and Law: A…2023

    This article provides a framework for understanding the economic role of central banks and their democratic legitimacy. I argue that thinking about the democratic challenges of central banking requires considering central banks’ insurance role and how their actions are part of credit policy . The contract between the central bank and the sovereign is incomplete because it cannot integrate all unforeseen contingencies, distributive consequences an…

  • Les Banques Centrales face à la stabilité des prix

    Louis Daumas, Éric Monnet et al.ARTICLERegards croisés sur l'économie/Rega…2023References: 4

    Dans cet entretien, nous abordons avec Éric Monnet le rôle des banques centrales dans le maintien de la stabilité des prix, rôle remis en question par la crise inflationniste actuelle. Il y évoque les instruments classiques à disposition des banques centrales, leurs limites et de possibles moyens alternatifs. Il suggère également qu’une coordination renouvelée entre politique fiscale et politique monétaire permettrait de lutter contre la montée d…

  • La nouvelle géopolitique monétaire et ses enjeux démocratiques

    É MonnetARTICLERevue d économie financière2022

    Une nouvelle architecture financière internationale se dessine, caractérisée par la normalisation des limites à la circulation totale des capitaux financiers et par la montée des prêts bilatéraux entre banques centrales. Les enjeux de diplomatie et de stabilité financière s’entrecroisent. Si les États autoritaires avec centralisation du pouvoir et absence d’indépendance des banques centrales trouvent naturellement leur compte dans ce nouvel état …

  • Taming the Global Financial Cycle: Central Banks as Shock Absorbers in the First Era of Globalization

    Open AccessGuillaume Bazot, É Monnet et al.ARTICLEThe Journal of Economic History2022Cited by: 2References: 52

    The Classical Gold Standard period, with high capital mobility and fixed-exchange rates, is usually seen as the extreme case of international constraints on monetary policy. Contrary to this view, we show how central bank balance sheets offset the effects of international shocks on domestic interest rates. In contrast, in the United States, a gold standard country without a central bank, the reaction of money market rates was two to four times st…

  • Capital Controls and Foreign Reserves Against External Shocks: Combined or Alone

    Open AccessRafaël Cezar, É Monnet et al.ARTICLESSRN Electronic Journal2021

  • Les monnaies numériques des banques centrales risquent-elles de déclencher des paniques bancaires

    Angelo Riva, Stefano Ungaro et al.PREPRINT2021

  • Introduction: Idéologies De La Frontière Et De La Propriété

    É Monnet, Éric MonnetARTICLERevue d’histoire moderne et…2021

    L'introduction au numéro spécial de la Revue d'histoire moderne & contemporaine consacré à l'ouvrage Capital et idéologie revient sur les complémentarités entre les quatre textes du numéro et la réponse de Thomas Piketty. Les terrains d'étude très différents de ces textes reflètent la diversité et l'ambition de l'ouvrage discuté : l'expansion violente des États-Unis à l'Ouest au xix e siècle (Emmanuelle Perez Tisserant), la Chine des réformes (Se…

  • Flight-to-safety and the credit crunch: A new history of the banking crises in France during the Great Depression

    Open AccessPatrice Baubeau, É Monnet et al.ARTICLEThe Economic History Review2021Cited by: 4References: 32

    Despite France's importance in the interwar world economy, the scale of the French banking crises of 1930-1 and their consequences have never been fully assessed quantitatively. The lack of banking regulation severely limited the availability of balance sheet data. Using a new dataset of individual balance sheets from more than 300 banks, this article shows that the crises were much more severe than previously thought, although they did not affec…

  • Lucien Gillard L'Union latine, une expérience de souverainetés monétaires partagées (1865-1926) Paris, Classiques Garnier, 2017, 372 p

    Open AccessÉ Monnet, Éric MonnetARTICLEAnnales Histoire Sciences Sociales2021

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  • The History and Politics of Public Debt Accounting

    Open AccessÉ Monnet, Éric Monnet et al.CHAPTERA World of Public Debts2020

    A country’s public debt figures vary considerably in any given year, depending on the definitions used. It creates difficulties in constructing and interpreting long-term statistical series. This chapter examines the policy issues behind the definition and accounting of public debt through history. Based on a critical analysis of widely used historical sources, as well as case studies, it discusses how to interpret historical public debt statisti…

  • Money, Banking, and Old-School Historical Economics

    Open AccessÉ Monnet, Éric Monnet et al.ARTICLESSRN Electronic Journal2020

  • Money, Banking, and Old-School Historical Economics

    É Monnet, Éric Monnet et al.REPORT2020

    We review developments in the history of money, banking, and financial intermediation over the last twenty years. We focus on studies of financial development, including the role of regulation and the history of central banking. We also review the literature of banking and financial crises. This area has been largely unaffected by the so-called new econometric methods that seek to prove causality in reduced form settings. We discuss why historica…

  • Les crises bancaires en France pendant la Grande Dépression: Une histoire renouvelée

    Patrice Baubeau, É Monnet et al.ARTICLERevue d économie financière2020