This article explores the determinants of price level fluctuations in Britain during the first suspension of the gold standard over the 1797-1821 period. I find that the contemporary price level was determined by world gold prices and expectations regarding the resumption of the gold standard at...

Between 1797 and 1821, Britain suspended the gold standard in order to finance the Napoleonic Wars. This measure was accompanied by large scale debt accumulation and inflation: After Napoleon’s final defeat at Waterloo in 1815, the debt to GDP ratio had climbed to 226%; the price level...

When money was made of gold and silver, individuals faced the problem of determining the intrinsic content of coins in many exchange situations. In this paper we look at a well-documented solution to this problem, and a key institution of the commodity money system: coin assaying. To that goal...

Small and medium-sized enterprises are a centrepiece of Europe's economy. Due to their limited size and their generally lower creditworthiness, their access to financial market instruments is more limited than for large enterprises, which benefit from more elaborate Treasury operations,...

Malgré un contexte économique toujours difficile, le total des crédits accordés aux professionnels de l’immobilier par les principales banques françaises, tel qu’il ressort de l’enquête annuelle du Secrétariat général de l’Autorité de Contrôle prudentiel et de Résolution...

The French housing market showed some recovery in 2013 amid furthermoderate price falls in the Paris area, Île de France and the rest of the country,at -1.5%, -1.6% and -1.4% respectively, and as interest rates stabilised athistorically low levels. The volume of transactions for existing homes,...

- Contrairement au marché américain, le marché de la titrisation européenne ne s’est pas totalement effondré avec la crise financière de 2008, même s’il a connu depuis une certaine atonie. La plus grande attention désormais apportée à la qualité des actifs sous-jacents a permis un...