This 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.
Download Info
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. In case of further problems read
the IDEAS help
page. Note that these files are not on the IDEAS
site. Please be patient as the files may be large.
Length: 46 pages Date of creation: 26 May 2009 Date of revision: Handle: RePEc:hhs:suekhi:0008
Contact details of provider: Postal: Department of Economic History, Stockholm University, SE 106 91 STOCKHOLM, Sweden Web page: http://www.ekohist.su.se/
For technical questions regarding this item, or to correct its listing, contact: (Rodney Edvinsson).
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; Growth and Fluctuations - - - Europe: Pre-1913 N23 - Economic History - - Financial Markets and Institutions - - - Europe: Pre-1913
This paper has been announced in the following NEP Reports: