The Swedish System of Payment 995-1534
AbstractThe medieval system of payment in Sweden was complex. This paper aims at clarifying some essential features of it in a way that may facilitate further study of medieval Swedish economic history by international researchers. For instance, the presentation of the exchange rate between the silver mark and the mark penningar provides information that is indispensable to anyone who wishes to convert nominal Swedish prices into silver prices, which in turn is necessary for international comparisons. Part of the complexity of the monetary system is due to the lack of a country-wide monetary standard for most of the medieval era. Several currencies existed alongside the mark penning. In addition, various foreign gold coins circulated at a floating rate. The exchange rates between these various currencies are sometimes not known with any precision. We have, however, tried to summarize the available information in several tables.
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Bibliographic InfoPaper provided by Department of Economic History, Stockholm University in its series Stockholm Papers in Economic History with number 9.
Length: 59 pages
Date of creation: 17 Aug 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 3, pages 67-132, 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; mark; silver; gold; Middle Ages; exchange;
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-2009-08-30 (All new papers)
- NEP-CBA-2009-08-30 (Central Banking)
- NEP-HIS-2009-08-30 (Business, Economic & Financial History)
- NEP-MAC-2009-08-30 (Macroeconomics)
- NEP-MON-2009-08-30 (Monetary Economics)
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For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Rodney Edvinsson).
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