New IMF data sheds light on interwar instability
Instrument-level data highlights how the network structure of debts contributed to collapse
A new dataset compiled by the International Monetary Fund allows new forms of analysis on the interwar period, showing how the structure of government debt contributed to the system’s downfall in 1930.
In the working paper, Nicolas End, Marina Marinkov and Fedor Miryugin say their instrument-level data on 18 major economies allows them to perform network analysis that would previously have been impossible. The database they compiled includes data on 3,800 individual debt instruments, including
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