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Theory, Evidence, and Belief—The Colonial Money Puzzle Revisited: Reply to Michener and Wright

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Author Info
Farley Grubb ()

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Article provided by Atlas Economic Research Foundation in its journal Econ Journal Watch.

Volume (Year): 3 (2006)
Issue (Month): 2 (May)
Pages: 45-72
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Handle: RePEc:ejw:volone:200645-72

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Related research
Keywords: money supply; specie; paper money; bills of credit; Pennsylvania; Maryland; Delaware; New Jersey; New York; colonial American history;

Find related papers by JEL classification:
N11 - Economic History - - Macroeconomics and Monetary Economics; Growth and Fluctuations - - - U.S.; Canada: Pre-1913
N21 - Economic History - - Financial Markets and Institutions - - - U.S.; Canada: Pre-1913
N41 - Economic History - - Government, War, Law, and Regulation - - - U.S.; Canada: Pre-1913
E59 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Other

References listed on IDEAS
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  1. Smith, Bruce D, 1985. "Some Colonial Evidence on Two Theories of Money: Maryland and the Carolinas," Journal of Political Economy, University of Chicago Press, vol. 93(6), pages 1178-1211, December. [Downloadable!] (restricted)
  2. Farley Grubb, 2003. "Creating the U.S. Dollar Currency Union, 1748–1811: A Quest for Monetary Stability or a Usurpation of State Sovereignty for Personal Gain?," American Economic Review, American Economic Association, vol. 93(5), pages 1778-1798, December. [Downloadable!]
  3. Ronald W. Michener and Robert E. Wright, 2006. "Miscounting Money of Colonial America," Econ Journal Watch, Atlas Economic Research Foundation, vol. 3(2), pages 4-44, May. [Downloadable!]
  4. Wicker, Elmus, 1985. "Colonial Monetary Standards Contrasted: Evidence from the Seven Years' War," The Journal of Economic History, Cambridge University Press, vol. 45(04), pages 869-884, December. [Downloadable!]
  5. Michener, Ronald, 1987. "Fixed exchange rates and the quantity theory in colonial America," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 27(1), pages 233-307, January. [Downloadable!] (restricted)
  6. Farley Grubb, 2004. "The Constitutional Creation of a Common Currency in the U.S., 1748-1811: Monetary Stabilization versus Merchant Rent Seeking," Working Papers 04-07, University of Delaware, Department of Economics. [Downloadable!]
  7. Bruce D. Smith, 1985. "American Colonial Monetary Regimes: The Failure of the Quantity Theory and Some Evidence in Favour of an Alternative View," Canadian Journal of Economics, Canadian Economics Association, vol. 18(3), pages 531-65, August. [Downloadable!] (restricted)
  8. Calomiris, Charles W., 1988. "The Depreciation of the Continental: A Reply," The Journal of Economic History, Cambridge University Press, vol. 48(03), pages 693-698, September. [Downloadable!]
  9. West, Robert Craig, 1978. "Money in the Colonial American Economy," Economic Inquiry, Oxford University Press, vol. 16(1), pages 1-15, January.
  10. Grubb, Farley, 2004. "The circulating medium of exchange in colonial Pennsylvania, 1729-1775: new estimates of monetary composition, performance, and economic growth," Explorations in Economic History, Elsevier, vol. 41(4), pages 329-360, October. [Downloadable!] (restricted)
  11. Farley Grubb, 2005. "Two Theories of Money Reconciled: The Colonial Puzzle Revisited with New Evidence," NBER Working Papers 11784, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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