Foreign exchange rates in Sweden 1658-1803
AbstractThis paper deals with foreign exchange rates in Sweden 1658-1803. Foreign currencies played a crucial role in Sweden. Most of the domestic currency units were, in fact, originally imported. In the 18th century, the exchange rates most quoted in Sweden were the ones on Amsterdam, Hamburg, London, Paris, Copenhagen, Gdansk and Swedish Pomerania. The primary data are bills of various durations. To estimate spot rates, an assumption must be made of an interest rate on these bills. In the period 1662-1669 the estimated median shadow interest rate on bills of exchange was as high as 12.5 percent, while it most likely decreased substantially in the 18th century.
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Bibliographic InfoPaper provided by Department of Economic History, Stockholm University in its series Stockholm Papers in Economic History with number 8.
Length: 46 pages
Date of creation: 26 May 2009
Date of revision:
Publication status: Published in Historical Monetary and Financial Statistics for Sweden: Exchange rates, prices and wages 1277–2008, Edvinsson, Rodney, Jacobson, Tor, Waldenström, Daniel (eds.), 2010, chapter 5, pages 238-290, Sveriges Riksbank, Ekerlids förlag.
Contact details of provider:
Postal: Department of Economic History, Stockholm University, SE 106 91 STOCKHOLM, Sweden
Web page: http://www.ekohist.su.se/
monetary history; foreign exchange; reichstaler; guilder; pound; taler; zloty; florin; Sweden;
Find related papers by JEL classification:
- E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
- N13 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: Pre-1913
- N23 - Economic History - - Financial Markets and Institutions - - - Europe: Pre-1913
This paper has been announced in the following NEP Reports:
- NEP-ALL-2009-06-10 (All new papers)
- NEP-CBA-2009-06-10 (Central Banking)
- NEP-HIS-2009-06-10 (Business, Economic & Financial History)
- NEP-IFN-2009-06-10 (International Finance)
- NEP-MAC-2009-06-10 (Macroeconomics)
- NEP-MON-2009-06-10 (Monetary Economics)
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- Edvinsson, Rodney, 2011. "New estimates of Swedish GDP by activity 1665-2010," Stockholm Papers in Economic History 12, Department of Economic History, Stockholm University.
- Roberds, William & Velde, Francois R., 2014. "Early Public Banks," Working Paper Series WP-2014-3, Federal Reserve Bank of Chicago.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Rodney Edvinsson).
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