Competing Bimetallic Ratios: Amsterdam, London, and Bullion Arbitrage in Mid-Eighteenth Century

Nogues-Marco, Pilar

doi:10.1017/S0022050713000326

Scientific article

English

Competing Bimetallic Ratios: Amsterdam, London, and Bullion Arbitrage in Mid-Eighteenth Century

Contributors

Nogues-Marco, Pilar

Published in

The journal of economic history, vol. 73, no. 02, p. 445-476

Publication date

2013

Abstract

This article analyzes the stability of bimetallism for countries operating in integrated bullion markets that enact different legal ratios. I articulate a new theoretical framework to demonstrate that two countries can both be bimetallic only if they coordinate their legal ratios. The theoretical framework is applied to the mid-eighteenth century when London's legal ratio was 3.8 percent higher than that of Amsterdam. I find that Amsterdam was effectively on the bimetallic standard, whereas London was on a de facto gold standard.

UNIGE affiliation entities

Citation (ISO format)

NOGUES-MARCO, Pilar. Competing Bimetallic Ratios: Amsterdam, London, and Bullion Arbitrage in Mid-Eighteenth Century. In: The journal of economic history, 2013, vol. 73, n° 02, p. 445–476. doi: 10.1017/S0022050713000326

Article (Published version)

Identifiers

PID : unige:77464
DOI : 10.1017/S0022050713000326

Additional URL for this publication

http://www.journals.cambridge.org/abstract_S0022050713000326

Journal ISSN

0022-0507

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Creation

17/11/2015 15:06:00

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17/11/2015 15:06:00

Update

14/03/2023 23:51:17

Status update

14/03/2023 23:51:17

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31/10/2024 01:58:19

Competing Bimetallic Ratios: Amsterdam, London, and Bullion Arbitrage in Mid-Eighteenth Century

Contributors

Published in

Publication date

Abstract

UNIGE affiliation entities

Citation (ISO format)

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Identifiers

Additional URL for this publication

Journal ISSN

Technical informations

Creation

First validation

Update

Status update

Last indexation