Search Results - subject:"Fractional reserves"

Ballinger, Clint - Volkswirtschaftliche Fakultät, … - 2013

MODERN MONETARY THEORY (MMT) notes correctly that money is a creature of the state, and that important macroeconomic and policy conclusions follow from this understanding, e.g., sovereign states are not revenue constrained and spending is primarily limited by inflation. Taxes give value to state...

Persistent link: https://www.econbiz.de/10011258509

Commercial note issuing banks and capital market development: An empirical test of the Enskilda Banks' assets, liabilities and reserves in relation to evolving capital market liquidity in Sweden, 1834 - 1913

Ögren, Anders - 2003

First established during the 1830's, the Enskilda banks were characterized by unlimited owner liability and the right to issue bank notes. Consequently, in Swedish banking history, these banks have been considered to be primitive relics. This paper utilizes new data to revise this picture of the...

Persistent link: https://www.econbiz.de/10010281241

Expansion of the money supply with a fixed exchange rate: free banking in Sweden under the silver and gold standards, 1834 - 1913

Ögren, Anders - 2003

This paper studies the role of bank notes issued by the private Enskilda banks in the expansion of the Swedish monetary stock under the classic specie standard maintained during the period 1834-1913. The use of balance sheets has made possible the estimation of more accurate and continuous...

Persistent link: https://www.econbiz.de/10010281321

Lender of last report in a transitional economy with a fixed exchange rate: Financial crises and monetary policy in Sweden under the silver and gold standards, 1834 - 1913

Ögren, Anders - 2003

According to the classical view, an economy's lender of last resort should be its central bank. For brief periods of time, the bank might suspend convertibility in order to provide the liquidity needed to support the domestic credit market. Recent experience of financial crises demonstrates the...

Persistent link: https://www.econbiz.de/10010281395

Expansion of the Money Supply with a Fixed Exchange Rate: “Free Banking” in Sweden under the Silver and Gold Standards, 1834 – 1913

Ögren, Anders - Economics Institute for Research (SIR), … - 2003

Silver and Gold Standards; Endogenous Money; Fractional Reserves; Free banking; Money Supply ABSTRACT This paper studies the … to in this chapter. 16 The theory assumes a banking system operating with fractional reserves under a specie standard … backing for its note issue. The system of fractional reserves was changed to one of differential reserves, the issue of …

Persistent link: https://www.econbiz.de/10005649398

Lender of Last Resort in a Peripheral Economy with a Fixed Exchange Rate: Financial Crises and Monetary Policy in Sweden under the Silver and Gold Standards, 1834 – 1913

Ögren, Anders - Economics Institute for Research (SIR), … - 2003

, 1834 – 1913 Anders Ögren ∗ Keywords: Classical silver and gold standards, Financial Crises, Fractional Reserves, Lender …

Persistent link: https://www.econbiz.de/10005649502

Commercial Note Issuing Banks and Capital Market Development: An Empirical Test of the Enskilda Banks’ Assets, Liabilities and Reserves in Relation to Evolving Capital Market Liquidity in Sweden, 1834 – 1913

Ögren, Anders - Economics Institute for Research (SIR), … - 2003

Silver and Gold Standards, Fractional Reserves, Free Banking, Liquidity ABSTRACT First established during the 1830's, the …

Persistent link: https://www.econbiz.de/10005207180