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types. The fragility was not a big problem, since the bracteates would not circulate for a long period. When monetization …Although the leaf-thin bracteates are the most fragile coins in monetary history, they were the main coin type for … almost two centuries in large parts of medieval Europe. The usefulness of the bracteates can be linked to the contemporary …
Persistent link: https://www.econbiz.de/10009793768
was less restrictive and had lower administrative costs for the coin issuer than re-coinage. Besides low monetization, the … debasements than routine calendar driven re-coinage, due to the high uncertainty. -- Re-coinage ; short-lived coinage system … ; debasement ; monetary tax ; monetization ; inflation ; monetary system …
Persistent link: https://www.econbiz.de/10009702273
Persistent link: https://www.econbiz.de/10012008358
Gesell taxes on money holdings have received attention in recent decades as a way of alleviating the zero lower bound on interest rates. Less known is that such a tax was the predominant method used to generate seigniorage in large parts of medieval Europe for around two centuries. When the...
Persistent link: https://www.econbiz.de/10011332944
Gesell taxes on money holdings have received attention in recent decades as a way of alleviating the zero lower bound on interest rates. Less known is that such a tax was the predominant method used to generate seigniorage in large parts of medieval Europe for around two centuries. When the...
Persistent link: https://www.econbiz.de/10011518666
was less restrictive and had lower administrative costs for the coin issuer than re-coinage. Besides low monetization, the … debasements than routine calendar driven re-coinage, due to the high uncertainty …
Persistent link: https://www.econbiz.de/10012856608
monitored and enforced. The principal example of frequently renewed coins is uni-faced bracteates, which were often subject to … annual or even biannual re-coinages. Although bracteates were not the cause of periodic re-coinage, their features … this monetary system with the end of bracteates' role as the principal coin in the 14th century …
Persistent link: https://www.econbiz.de/10012830522
monetization of government debt and its major implication, namely, that it leads to printing money and, consequently, to inflation …, monetization does not occur as it is often described, and it is not nearly as dangerous as its critics argue (and not as useful as …
Persistent link: https://www.econbiz.de/10012403974
This paper assesses Revolutionary and Napoleonic wartime economic policy. Suspension of gold convertibility in 1797 allowed the Bank of England to nurture British monetary orthodoxy. The Order of the Privy Council suspended gold payments on Bank of England notes and afforded simultaneous...
Persistent link: https://www.econbiz.de/10013075548
A monetary system called periodic re-coinage was used during almost 200 years in large part of medieval Europe. Old coins were frequently declared invalid and had to be exchanged for new ones for an exchange fee. This system – which is equivalent to a Gesell tax – required a limited coin...
Persistent link: https://www.econbiz.de/10012827270