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A monetary history of the United States : 1867-1960
Friedman, Milton; Schwartz, Anna Jacobson - 1963 - 4. printing
Persistent link: https://www.econbiz.de/10000608739
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Making Money
Gorton, Gary; Ross, Chase P.; Ross, Sharon Y. - National Bureau of Economic Research - 2022
It is difficult for private agents to produce money that circulates at par with no questions asked. We study two cases … of privately-produced money: pre-Civil War U.S. private banknotes and modern stablecoins. Private monies are introduced … more money-like, but they do not always achieve a positive convenience yield. Technology advances and reputation formation …
Persistent link: https://www.econbiz.de/10012814485
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Money and Price Dispersion in the United States
Hercowitz, Zvi - 1980
annual wholesale price indexes for the period 1948-76. The data on money shocks are the unanticipated money growth series … results are negative. They reject the hypothesis that unexpected money shocks, as measured by Barro, affect price dispersion …
Persistent link: https://www.econbiz.de/10012478712
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Financial services industry issues
1988
Persistent link: https://www.econbiz.de/10000773652
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Surviving the Fintech Disruption
Jiang, Wei; Tang, Yuehua; Xiao, Jiqiu; Yao, Wenxiong - National Bureau of Economic Research - 2021
This paper studies how demand for labor reacts to financial technology (fintech) shocks based on comprehensive databases of fintech patents and firm job postings in the U.S. during the past decade. We first develop a measure of fintech exposure at the occupation level by intersecting the textual...
Persistent link: https://www.econbiz.de/10012510601
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Has the U.S. Finance Industry Become Less Efficient? On the Theory and Measurement of Financial Intermediation
Philippon, Thomas - 2012
I provide a quantitative interpretation of financial intermediation in the U.S. over the past 130 years. Measuring separately the cost of intermediation and the production of financial services, I find that: (i) the quantity of intermediation varies a lot over time; (ii) intermediation is...
Persistent link: https://www.econbiz.de/10012460582
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Fund Flows and Income Risk of Fund Managers
Cen, Xiao; Dou, Winston Wei; Kogan, Leonid; Wu, Wei - National Bureau of Economic Research - 2023
Investment fund managers make asset allocation decisions on behalf of a significant segment of US households. To elucidate the incentives they operate under, as well as the income and career risks they face, we construct a unique and novel dataset, which encompasses detailed information on the...
Persistent link: https://www.econbiz.de/10014447307
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Monetary Policy with 100 Percent Reserve Banking : An Exploration
Prescott, Edward C. - 2016
institutions. Money is a form of government debt that bears interest, which can be negative as well as positive. Services of money …, we determine a balanced growth path for a set of money interest rate policy regimes. Besides this interest rate, the only …
Persistent link: https://www.econbiz.de/10012456246
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Is Paper Money Just Paper Money? Experimentation and Variation in the Paper Monies Issued by the American Colonies from 1690 to 1775
Grubb, Farley - 2012
... Paper Bills called Bills of Credit or Paper Money have therefore in the colonies long been substituted for real Money …
Persistent link: https://www.econbiz.de/10012460662