Colonial New Jersey Paper Money, 1709-1775
Value Decomposition and Performance
Bibliographic Data
| ID | 4916334 |
|---|---|
| Authors | Farley Grubb (0000-0001-7952-105X, University of Delaware, corresponding author) |
| Year | 2016 |
| Volume | 76 |
| Issue | 4 |
| Pages | 1216-1232 |
| Publication date | 2016-12-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | The Journal of Economic History (JOURNAL) |
| Journal identifiers | ISSN: 0022-0507 • E-ISSN: 1471-6372 |
| Publisher | Cambridge University Press (CUP) (PUBLISHER) |
| DOI | 10.1017/s0022050716001029 |
| OpenAlex | W2553308982 |
| Language | EN |
| Citations received | 2 |
| References cited | 9 |
I decompose the market value of Colonial New Jersey's paper money into its component parts, namely its real-asset present value and transaction premium. Its market value was predominately determined by its real-asset present value. I also find a small transaction premium that is positively associated with the quantity of paper money in circulation and with the land-bank method of paper money injection. This paper money was not a fiat currency. It traded below face value due to time-discounting not depreciation
Asset (computer security) · Circulation (fluid dynamics) · Currency · Database transaction · Depreciation (economics) · Discounting · Economics · Endogenous money · Face value · Fiat money · Financial economics · Microeconomics · Monetary economics · Monetary policy · Money measurement concept · Time value of money · Value (mathematics) · Velocity of money · Computer Science · Finance · Historical Economic and Social Studies · Mathematics
| Unique citing works | 2 |
|---|---|
| Citations per year | 0,29 |
| Citation span | 2019 - 2025 (7) |
| Citation velocity | recent |
| Highly cited | No |
| Citation types | Neutral: 2 |