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Periodic Re-Coinage as a Monetary Tax : The Rise and Fall of the Bracteate Economy
Svensson, Roger - 2020
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
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Periodic Re-Coinage as a Monetary Tax : Conditions for the Rise and Fall of the Bracteate Economy
Svensson, Roger - 2020
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
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Renovatio monetae : gesell taxes in practice
Svensson, Roger; Westermark, Andreas - 2015
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
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Renovatio monetae : Gesell taxes in practice
Svensson, Roger; Westermark, Andreas - 2016
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
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Seigniorage through Periodic Recoinage : When the Validity of Money Was Restricted in Time
Svensson, Roger - 2020
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
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Renovatio Monetae : When Gesell Taxes Worked
Svensson, Roger - 2020
Gesell taxes on money have recently received attention as a way of alleviating the zero lower bound on interest rates. Less known is that such taxes were an important method for generating seigniorage in medieval Europe for around two centuries. When a Gesell tax was levied, current coins ceased...
Persistent link: https://www.econbiz.de/10012830531
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Money Creation : Genesis 3: Bank Deposits
Faure, Alexander Pierre - 2013
After the discovery by the goldsmith-bankers that loans could be made by the issue of the newly accepted means of payments, receipts/bank notes, there was an inevitable next step: deposit money. Bank notes are deposits, but in a different form. Bank deposits are also accounting entries, but they...
Persistent link: https://www.econbiz.de/10013083838
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Regional Monetary Standards and Medieval Bracteates
Svensson, Roger - 2021
strong link between bracteates and periodic re-coinage explain the large number of bracteate types. The classification and … central problem when classifying bracteates is that most of them are anonymous, i.e., there are seldom any legends or letters …. However, bracteates struck in closely located mints almost always have the same regional monetary standard. In this study, I …
Persistent link: https://www.econbiz.de/10013237706
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The Implication of Defi (Decentralized Finance) in Disrupting the Global Banking System
Mahmud, Sakib; Wahid, Tahmid; Chowdhury, Ayesha Nehar; … - 2023
Decentralized finance (DeFi) has emerged as a credible challenger in the financial industry's current norms. It employs cutting-edge solutions to decentralize banking and industry concepts and provide financial services to anybody, everywhere. It also intends to improve financial inclusion by...
Persistent link: https://www.econbiz.de/10014353542
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Generalizing Determinacy under Monetary and Fiscal Policy Switches : The Case of the Zero Lower Bound
Cho, Seonghoon - 2020
In a fixed-regime setting, it is known since Leeper (1991) that both monetary dominance (mix of active monetary and passive fiscal policies) and fiscal dominance (mix of active fiscal and passive monetary policy) regimes yield a determinate unique equilibrium. This paper shows that in a...
Persistent link: https://www.econbiz.de/10012847919