Non-legal-tender paper money
The structure and performance of Maryland's bills of credit, 1767-75
Datos Bibliográficos
| ID | 3397159 |
|---|---|
| Autores | James Celia (University of Delaware), Farley Grubb (0000-0001-7952-105X, University of Delaware) |
| Año | 2016 |
| Volumen | 69 |
| Número | 4 |
| Páginas | 1132-1156 |
| Fecha de publicación | 2016-11-01 |
| Peer Reviewed | Sí |
| Open Access | Sí |
| Tipo | ARTICLE |
| Revista | The Economic History Review (JOURNAL) |
| Identificadores de la revista | ISSN: 0013-0117 • E-ISSN: 1468-0289 |
| Editorial | Wiley (PUBLISHER • GB) |
| DOI | 10.1111/ehr.12278 |
| OpenAlex | W3125078090 |
| Idioma | EN |
| Citas recibidas | 1 |
| Referencias citadas | 30 |
In this article, Maryland's non-legal-tender paper money emissions between 1765 and 1775 are reconstructed to determine quantities outstanding and redemption dates, providing a substantial correction to the literature. Over 80 per cent of this paper money's current market value was expected real asset present value and under 20 per cent was liquidity premium. It was primarily a real barter asset and not a fiat currency. The liquidity premium was positively related to the amount of paper money per capita in circulation. This paper money traded below face value due to time-discounting, rather than depreciation. Past scholars have simply confused depreciation with time-discounting
Business · Circulation (fluid dynamics) · Currency · Depreciation (economics) · Discounting · Economics · Endogenous money · Fiat money · Financial economics · Future value · Interest rate · Market liquidity · Microeconomics · Monetary economics · Monetary policy · Money measurement concept · Time value of money · Value (mathematics) · Velocity of money · Finance · Fiscal Policy and Economic Growth · Historical Economic and Social Studies · Monetary Policy and Economic Impact
Money and Exchange in Europe and America, 1600–1775
The Papers of Benjamin Franklin. 41 vols
Money and Politics in America, 1755-1775
Money and Prices in Colonial America
Some Colonial Evidence on Two Theories of Money
Prices and Wages in Maryland, 1750–1850
The Massachusetts Paper Money of 1690
Monetization and growth in colonial New England, 1703–1749
The circulating medium of exchange in colonial Pennsylvania, 1729–1775
The quantity theory in New England, 1703–1749
The Money Supply of the American Colonies before 1720
The Currency of the American Colonies, 1700-1764
The British Atlantic Empire before the American Revolution
The Issue of Paper Money in the American Colonies, 1720–1774
Law, Society, and Politics in Early Maryland
American Bullion in the European World Trade, 1600-1800
Backing Theories and the Currencies of Eighteenth-Century America
Colonial Currency and the Quantity Theory of Money
Colonial Monetary Standards Contrasted
The Currency Act of 1764 in Imperial-Colonial Relations, 1764-1776
| Obras citantes distintas | 1 |
|---|---|
| Citas por año | 0,14 |
| Intervalo de citas | 2019 - 2019 (1) |
| Velocidad de citación | historical |
| Altamente citado | No |
| Tipos de cita | Neutras: 1 |