Rousseau, Peter L.; Stroup, Caleb - In: Explorations in Economic History 48 (2011) 4, pp. 600-613
We examine econometrically the real effects of paper money's introduction into colonial New England over the 1703–1749 period. Departing from earlier analyses that focus primarily on the depreciation of paper money in the region, we show that expansion of the money stock promoted growth in...
