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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

Strategier för effektiva myntindragningar (Strategies for Efficient Coin Renewals)

Svensson, Roger; Westermark, Andreas - 2021

Swedish abstract: Periodiska myntindragningar tillämpades under nästan 200 år i stora delar av medeltidens Europa. Gamla mynt förklarades ogiltiga och skulle växlas in mot nya till på förhand bestämda kurser och datum. Denna skatt var likvärdig med en modern Gesellskatt på pengainnehav...

Persistent link: https://www.econbiz.de/10013233660

Destabilizing the Global Monetary System : Germany's Adoption of the Gold Standard in the Early 1870s

Wiegand, Johannes - 2019

In 1871-73, newly unified Germany adopted the gold standard, replacing the silver-based currencies that had been prevalent in most German states until then. The reform sparked a series of steps in other countries that ultimately ended global bimetallism, i.e., a near-universal fixed exchange...

Persistent link: https://www.econbiz.de/10012889160

An Economic Explanation of the Early Bank of Amsterdam, Debasement, Bills of Exchange, and the Emergence of the First Central Bank

Quinn, Stephen F.; Roberds, William - 2014

The Bank of Amsterdam, founded in 1609, was the first public bank to offer accounts not directly convertible to coin. As such, it can be described as the first true central bank. The debut of central bank money did not result from any conscious policy decision, however, but instead arose almost...

Persistent link: https://www.econbiz.de/10014048544

The Big Problem of Large Bills : The Bank of Amsterdam and the Origins of Central Banking

Quinn, Stephen F.; Roberds, William - 2015

This paper outlines a model of the first true central bank, the Bank of Amsterdam, founded in 1609. Employing a variant of the Freeman (1996) model of money and payments, we first analyze the problematic monetary situation in the Netherlands prior to the founding of the Bank. We then use the...

Persistent link: https://www.econbiz.de/10014048554

The National Bank of Romania and its Issue of Banknotes between Necessity and Possibility, 1880-1914

Stoenescu, George V.; Blejan, Elisabeta; Costache, … - 2022

The paper looks at the National Bank of Romania’s issue of banknotes from 1880 through 1914, highlighting the developments in the notes’ cover, the channels whereby the central bank put its notes into circulation, as well as the behaviour of the issuing house during episodes of crisis. The...

Persistent link: https://www.econbiz.de/10014080423

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

An input-output based measure of underlying domestic inflation in Denmark 1903-2002

Abildgren, Kim - 2006

The paper analyses the development in inflation in Denmark during the last century. New annual input-output based time-series data for the underlying domestic inflation in Denmark 1903-2002 is constructed by stripping the development in the private consumption deflator for price increases caused...

Persistent link: https://www.econbiz.de/10010321214

Liquidity Traps: How to Avoid Them and How to Escape Them

Buiter, Willem H.; Panigirtzoglou, Nikolaos - C.E.P.R. Discussion Papers - 1999

The paper considers ways of avoiding a liquidity trap and ways of getting out of one. Unless lower short nominal interest rates are associated with significantly lower interest volatility, a lower average rate of inflation, which will be associated with lower expected nominal interest rates,...

Persistent link: https://www.econbiz.de/10005136693

Overcoming the zero bound on nominal interest rates with negative interest on currency : Gesell's solution

Buiter, Willem H. - London School of Economics (LSE) - 2003

An economy is in a liquidity trap when monetary policy cannot influence either real or nominal variables of interest. A necessary condition for this is that the short nominal interest rate is constrained by its lower bound, typically zero. The paper considers two small analytical models, one...

Persistent link: https://www.econbiz.de/10010745321