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Pricing free bank notes

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  • Gorton, Gary

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  • Gorton, Gary, 1999. "Pricing free bank notes," Journal of Monetary Economics, Elsevier, vol. 44(1), pages 33-64, August.
    • Handle: RePEc:eee:moneco:v:44:y:1999:i:1:p:33-64
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    10. Du Boff, Richard B., 1980. "Business Demand and the Development of the Telegraph in the United States, 1844–1860," Business History Review, Cambridge University Press, vol. 54(4), pages 459-479, January.
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    12. Lindstrom, Diane L., 1975. "Demand, Markets, and Eastern Economic Development: Philadelphia, 1815–184," The Journal of Economic History, Cambridge University Press, vol. 35(1), pages 271-273, March.
    13. Hugh Rockoff, 1991. "Lessons from the American Experience with Free Banking," Palgrave Macmillan Books, in: Forrest Capie & Geoffrey E. Wood (ed.), Unregulated Banking, chapter 3, pages 73-129, Palgrave Macmillan.
    14. Mark Rubinstein, 1976. "The Valuation of Uncertain Income Streams and the Pricing of Options," Bell Journal of Economics, The RAND Corporation, vol. 7(2), pages 407-425, Autumn.
    15. Latane, Henry A & Rendleman, Richard J, Jr, 1976. "Standard Deviations of Stock Price Ratios Implied in Option Prices," Journal of Finance, American Finance Association, vol. 31(2), pages 369-381, May.
    16. Milton Friedman & Anna J. Schwartz, 1987. "Has Government Any Role in Money?," NBER Chapters, in: Money in Historical Perspective, pages 289-314, National Bureau of Economic Research, Inc.
    17. Schmalensee, Richard & Trippi, Robert R, 1978. "Common Stock Volatility Expectations Implied by Option Premia," Journal of Finance, American Finance Association, vol. 33(1), pages 129-147, March.
    18. William F. Harding, 0. "The State Bank of Indiana," Journal of Political Economy, University of Chicago Press, vol. 4, pages 1-1.
    19. Black, Fischer & Scholes, Myron S, 1973. "The Pricing of Options and Corporate Liabilities," Journal of Political Economy, University of Chicago Press, vol. 81(3), pages 637-654, May-June.
    20. Rockoff, Hugh, 1974. "The Free Banking Era: A Reexamination," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 6(2), pages 141-167, May.
    21. Svensson, Lars E O, 1985. "Money and Asset Prices in a Cash-in-Advance Economy," Journal of Political Economy, University of Chicago Press, vol. 93(5), pages 919-944, October.
    22. Gorton, Gary, 1996. "Reputation Formation in Early Bank Note Markets," Journal of Political Economy, University of Chicago Press, vol. 104(2), pages 346-397, April.
    23. Rockoff, Hugh, 1985. "New Evidence on Free Banking in the United States [New Evidence on the Free Banking Era]," American Economic Review, American Economic Association, vol. 75(4), pages 886-889, September.
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    Cited by:

    1. Hajime Tomura, 2019. "On Separation between Payment and Saving Instruments," Working Papers 1813, Waseda University, Faculty of Political Science and Economics.
    2. Étienne Farvaque, 2007. "Fondements constitutionnels de l’indépendance des Banques centrales : des Pères fondateurs de la nation américaine à la Banque centrale européenne," Revue d'Économie Financière, Programme National Persée, vol. 87(1), pages 225-239.
    3. John A. James & David F. Weiman, 2010. "From Drafts to Checks: The Evolution of Correspondent Banking Networks and the Formation of the Modern U.S. Payments System, 1850–1914," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 42(2‐3), pages 237-265, March.
    4. Gorton, Gary & Metrick, Andrew & Xie, Lei, 2021. "The flight from maturity," Journal of Financial Intermediation, Elsevier, vol. 47(C).
    5. Ales, Laurence & Carapella, Francesca & Maziero, Pricila & Weber, Warren E., 2008. "A model of banknote discounts," Journal of Economic Theory, Elsevier, vol. 142(1), pages 5-27, September.
    6. Warren E. Weber, 2003. "Banknote prices in the United States prior to 1860," Working Papers 629, Federal Reserve Bank of Minneapolis.
    7. Haelim Anderson & Mark Paddrik & Jessie Jiaxu Wang, 2019. "Bank Networks and Systemic Risk: Evidence from the National Banking Acts," American Economic Review, American Economic Association, vol. 109(9), pages 3125-3161, September.
    8. Gary Gorton, 2020. "The Regulation of Private Money," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 52(S1), pages 21-42, October.
    9. Shambaugh, Jay C., 2006. "An experiment with multiple currencies: the American monetary system from 1838-60," Explorations in Economic History, Elsevier, vol. 43(4), pages 609-645, October.
    10. Tri Vi Dang & Gary Gorton & Bengt Holmström & Guillermo Ordoñez, 2017. "Banks as Secret Keepers," American Economic Review, American Economic Association, vol. 107(4), pages 1005-1029, April.
    11. Christopher Bailey & Tarique Hossain & Gary Pecquet, 2018. "Private banks in early Michigan, 1837–1884," Cliometrica, Springer;Cliometric Society (Association Francaise de Cliométrie), vol. 12(1), pages 153-180, January.
    12. Gary Gorton & Ellis W. Tallman, 2016. "How Did Pre-Fed Banking Panics End?," Working Papers (Old Series) 1603, Federal Reserve Bank of Cleveland.
    13. Jaremski, Matthew & Mathy, Gabrial, 2017. "Looking Back On the Age of Checking in America, 1800-1960," MPRA Paper 78083, University Library of Munich, Germany.
    14. John A. James & David F. Weiman, 2007. "The Political Economy of the US Monetary Union: The Civil War Era as a Watershed," American Economic Review, American Economic Association, vol. 97(2), pages 271-275, May.
    15. Gary B. Gorton, 2016. "The History and Economics of Safe Assets," NBER Working Papers 22210, National Bureau of Economic Research, Inc.
    16. Gary B. Gorton, 2020. "Private Money Production without Banks," NBER Working Papers 26663, National Bureau of Economic Research, Inc.
    17. Hajime Tomura, 2021. "Nominal contracts and the payment system," The Japanese Economic Review, Springer, vol. 72(2), pages 185-216, April.
    18. Gary Gorton, 2013. "The Development of Opacity in U.S. Banking," NBER Working Papers 19540, National Bureau of Economic Research, Inc.
    19. Tri Vi Dang & Gary B. Gorton & Bengt R. Holmstrom, 2019. "The Information View of Financial Crises," NBER Working Papers 26074, National Bureau of Economic Research, Inc.
    20. Gary B. Gorton, 2019. "The Regulation of Private Money," NBER Working Papers 25891, National Bureau of Economic Research, Inc.
    21. Gary B. Gorton, 2012. "Some Reflections on the Recent Financial Crisis," NBER Working Papers 18397, National Bureau of Economic Research, Inc.
    22. Alicia García Herrero & Pedro del Río, 2003. "Financial stability and the design of monetary policy," Working Papers 0315, Banco de España.
    23. Gerald P. Dwyer & Rik Hafer, 2001. "Bank failures in banking panics: Risky banks or road kill?," FRB Atlanta Working Paper 2001-13, Federal Reserve Bank of Atlanta.
    24. Holthausen, Cornelia & Monnet, Cyril, 2003. "Money and payments: a modern perspective," Working Paper Series 245, European Central Bank.

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