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Colonial New Jersey's Paper Money Regime, 1709-1775 : A Forensic Accounting Reconstruction of the Data
Grubb, Farley - 2013
Forensic accounting is used to reconstruct the data on emissions, redemptions, and bills outstanding for colonial New Jersey paper money. These components are further separated into the amounts initially legislated, and the amounts actually executed. These data are substantial improvements over...
Persistent link: https://www.econbiz.de/10013071898
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Creating Maryland'S Paper Money Economy, 1720-1739 : The Role of Power, Print, and Markets
Grubb, Farley - 2021
The British North American colonies were the first western economies to rely on legislature-issued fiat paper money as their principal internal medium of exchange. This system arose piecemeal across the colonies making the paper money creation story for each colony unique. It was true monetary...
Persistent link: https://www.econbiz.de/10013243397
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Gold, Fiat Money, and Price Stability
Bordo, Michael D.; Dittmar, Robert; Gavin, William T. - 2021
gold standard has long been associated with long-run price stability. But critics of the day argued that the regime was … four alternative regimes. They are the gold standard, Irving Fisher's compensated dollar proposal, and two regimes with … an interest rate rule to target the price of gold. In the second, there is no convertibility and the central bank targets …
Persistent link: https://www.econbiz.de/10013232922
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Good Versus Bad Deflation : Lessons from the Gold Standard Era
Bordo, Michael D.; Landon-Lane, John; Redish, Angela - 2021
based on gold: circumstances which have resonance with the world of today. We identify aggregate supply, aggregate demand …
Persistent link: https://www.econbiz.de/10013237965
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Shotgun Wedding : Fiscal and Monetary Policy
Bassetto, Marco; Sargent, Thomas J. - 2022
This paper describes interactions between monetary and fiscal policies that affect equilibrium price levels and interest rates by critically surveying theories about (a) optimal anticipated inflation, (b) optimal unanticipated inflation, and (c) conditions that secure a "nominal anchor'' in the...
Persistent link: https://www.econbiz.de/10013324140
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The Digitalization of Money
Brunnermeier, Markus K. - 2019
The ongoing digital revolution may lead to a radical departure from the traditional model of monetary exchange. We may see an unbundling of the separate roles of money, creating fiercer competition among specialized currencies. On the other hand, digital currencies associated with large platform...
Persistent link: https://www.econbiz.de/10012862410
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Chronic Specie Scarcity and Efficient Barter : The Problem of Maintaining an Outside Money Supply in British Colonial America
Grubb, Farley - 2012
Colonial Americans complained that gold and silver coins (specie) were chronically scarce. These coins could be …
Persistent link: https://www.econbiz.de/10013106299
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Exchange Rates, Country Preferences, and Gold
Dooley, Michael P. - 2010
reflected systematically in the price of gold and, hence, that gold price movements, under the maintained hypothesis, should … of gold prices on exchange rates conditional on other monetary and real macroeconomic variables, and applies the …
Persistent link: https://www.econbiz.de/10013135311
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Fetters of Gold and Paper
Eichengreen, Barry - 2010
We describe in this essay why the gold standard and the euro are extreme forms of fixed exchange rates, and how these …
Persistent link: https://www.econbiz.de/10013139971
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Getting Pegged : Comparing the 1879 and 1925 Gold Resumptions
Bordo, Michael D.; Bayoumi, Tamim - 2022
We compare the resumption of convertibility into gold by the United States in 1879 and Britain in 1925 to ascertain the …
Persistent link: https://www.econbiz.de/10013309221