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All Outputs (12)

Crowding in during the Seven Years’ War (2024)
Journal Article
Sissoko, C., & Palma, N. (in press). Crowding in during the Seven Years’ War. Journal of Government and Economics,

We present a financial history of the Seven Years’ War (1756–1763) using a new dataset derived from the Bank of England minutes. We argue that the war and the asso-ciated actions of the Bank of England led to a transformation of the financial system.... Read More about Crowding in during the Seven Years’ War.

On the economics of cross-border reparation payments: The case for a bank of international reparations (2024)
Journal Article
Sissoko, C. (in press). On the economics of cross-border reparation payments: The case for a bank of international reparations. Development and Change,

This essay considers the challenge of ensuring that international reparation payments are effective in benefiting the recipient countries of the reparations. In order to ensure that these financial flows provide long-term benefit to the recipient eco... Read More about On the economics of cross-border reparation payments: The case for a bank of international reparations.

Banks are different: Why bank-based versus market-based lending is a false dichotomy (2024)
Journal Article
Sissoko, C. (in press). Banks are different: Why bank-based versus market-based lending is a false dichotomy. European Journal of Economics and Economic Policies: Intervention, https://doi.org/10.4337/ejeep.2024.0131

This paper introduces modern readers to ‘banking theory’, that is, to the understanding of the banking system that was held by academics and practitioners in the early years of the twentieth century. This theory contrasts with the theoretic framework... Read More about Banks are different: Why bank-based versus market-based lending is a false dichotomy.

Becoming a central bank: The development of the Bank of England's private sector lending policies during the Restriction (2021)
Journal Article
Sissoko, C. (2022). Becoming a central bank: The development of the Bank of England's private sector lending policies during the Restriction. Economic History Review, 75(2), 601-632. https://doi.org/10.1111/ehr.13110

This paper studies in detail the changes that took place in the Bank of England’s Restriction era policies governing private sector lending. We find that the Bank was adapting to novel monetary circumstances, created both by the evolution of the Engl... Read More about Becoming a central bank: The development of the Bank of England's private sector lending policies during the Restriction.

The nature of money in a convertible currency world (2020)
Journal Article
Sissoko, C. (2020). The nature of money in a convertible currency world. Review of Economic Analysis, 12(1),

In a world where the means of exchange is convertible into the numeraire consumption good at a fixed rate, no one wants to hold money over time – and due to convertibility there is no means by which the Friedman rule can generate deflation. This is t... Read More about The nature of money in a convertible currency world.

Repurchase agreements and the (de)construction of financial markets (2019)
Journal Article
Sissoko, C. (2019). Repurchase agreements and the (de)construction of financial markets. Economy and Society, 48(3), 315-341. https://doi.org/10.1080/03085147.2018.1525155

© 2019, © 2019 Informa UK Limited, trading as Taylor & Francis Group. The safety of repurchase agreements (repos) depends on the neoclassical premise that markets are reliable sources of liquidity; repos in practice disprove the theory by generatin... Read More about Repurchase agreements and the (de)construction of financial markets.

The Plight of Modern Markets: How Universal Banking Undermines Capital Markets (2016)
Journal Article
Sissoko, C. (2017). The Plight of Modern Markets: How Universal Banking Undermines Capital Markets. Economic Notes, 46(1), 53-104. https://doi.org/10.1111/ecno.12071

© 2016 Banca Monte dei Paschi di Siena SpA This paper explains the process of competitive deregulation that led both the US and the UK to embrace universal banking and to abandon the functional separation of financial activities that had long charact... Read More about The Plight of Modern Markets: How Universal Banking Undermines Capital Markets.

How to stabilize the banking system: Lessons from the pre-1914 London money market (2016)
Journal Article
Sissoko, C. (2016). How to stabilize the banking system: Lessons from the pre-1914 London money market. Financial History Review, 23(1), 1-20. https://doi.org/10.1017/S0968565016000020

Copyright © European Association for Banking and Financial History e.V. 2016. This article argues that the British financial system in the era prior to World War I provides modern policymakers with a successful model of how to stabilize the banking s... Read More about How to stabilize the banking system: Lessons from the pre-1914 London money market.

Is financial regulation structurally biased to favor deregulation (2013)
Journal Article
Sissoko, C. (2013). Is financial regulation structurally biased to favor deregulation. Southern California Law Review, 86(2),

This article finds that the financial regulatory agencies operate in an environment where regulatory actions often face legal challenge, but deregulatory actions are rarely challenged, and argues that the growing use of interpretive rules combined wi... Read More about Is financial regulation structurally biased to favor deregulation.

The legal foundations of financial collapse (2010)
Journal Article
Sissoko, C. (2010). The legal foundations of financial collapse. Journal of Financial Economic Policy, 2(1), 5-34. https://doi.org/10.1108/17576381011055325

Purpose – The purpose of this paper is to analyze the consequences of the “safe harbor” provisions of the US Bankruptcy Code that were enacted from 1984 through 2005 and that protect certain financial contracts from standard bankruptcy procedures.... Read More about The legal foundations of financial collapse.