The medieval system of payment in Sweden was complex. This paper aims at clarifying some essential features of it in a way that may facilitate further study of medieval Swedish economic history by international researchers. For instance, the presentation of the exchange rate between the silver...

This article examines the interactions between two distinct currency systems that dominated the Deccan during the period c. 1350–1687—that of the Bahmani sultanate and its successor states, and that of the Vijayanagara kingdom and its successors. Based on a GIS database of over 300...

This paper documents nominal stability in Switzerland from 1805 to 2013 using a data set on annual price, wage and nominal GDP changes. The trends of these indicators are estimated by an unobserved-components stochastic-volatility model in order to control for short-term fluctuations and...

Jacques Léon Rueff (1896-1978) is one of the great French economists of the twentieth century, yet today it is largely unknown. The recurrence of financial crises around the world is an opportunity to rediscover the originality of thought of that great liberal writer who was an advisor to...

In 1966, Congress gave the Federal Reserve authority to purchase the debt of agencies guaranteed or owned by the federal government. This same authority has enabled the Fed's purchases of mortgage-backed securities (MBS) and debt of government-sponsored enterprises (GSEs) Fannie Mae and Freddie...

This paper presents a new view on the gold price of greenbacks during and after the American Civil War by analyzing exchange-rate volatility rather than exchange-rate levels. Our empirical investigation detects regimes of high and low volatility alternating in a way that is consistent with a...

This paper deals with the exchange rates between the domestic currencies of Sweden-Finland in 1534-1803. In 1534, the first silver daler coins were minted in Sweden, which existed alongside the main silver coins at a fluctuating exchange rate. In 1624, a copper standard was introduced. However,...

This paper classifies the monetary standards in Sweden from the Middle Ages to the present, and gives an overview of the various currencies that were in use. During most of Sweden’s history, a commodity standard was in place, while the fiat standard is a rather late innovation. The...