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Institutional Failure, Monetary Scarcity, and the Depreciation of the Continental


  • Calomiris, Charles W.


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  • Calomiris, Charles W., 1988. "Institutional Failure, Monetary Scarcity, and the Depreciation of the Continental," The Journal of Economic History, Cambridge University Press, vol. 48(01), pages 47-68, March.
  • Handle: RePEc:cup:jechis:v:48:y:1988:i:01:p:47-68_00

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    References listed on IDEAS

    1. Eichengreen, Barry J., 1981. "A dynamic model of tariffs, output and employment under flexible exchange rates," Journal of International Economics, Elsevier, vol. 11(3), pages 341-359, August.
    2. Peter Temin, 1971. "The Beginning of the Depression in Germany," Economic History Review, Economic History Society, vol. 24(2), pages 240-248, May.
    3. Eichengreen, Barry, 1984. "Central bank cooperation under the interwar gold standard," Explorations in Economic History, Elsevier, vol. 21(1), pages 64-87, January.
    4. Peden, G C, 1980. "Keynes, the Treasury and Unemployment in the Later Nineteen-Thirties," Oxford Economic Papers, Oxford University Press, vol. 32(1), pages 1-18, March.
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    Cited by:

    1. Rousseau, Peter L., 2006. "A common currency: early US monetary policy and the transition to the dollar," Financial History Review, Cambridge University Press, vol. 13(01), pages 97-122, April.
    2. Grubb, Farley, 2008. "The Continental Dollar: How Much Was Really Issued?," The Journal of Economic History, Cambridge University Press, vol. 68(01), pages 283-291, March.
    3. 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.
    4. Peter L. Rousseau, 2010. "Monetary Policy and the Dollar," NBER Chapters,in: Founding Choices: American Economic Policy in the 1790s, pages 121-149 National Bureau of Economic Research, Inc.
    5. Michael Sproul, 1998. "Backed Money, Fiat Money, and the Real Bills Doctrine," UCLA Economics Working Papers 774B, UCLA Department of Economics.
    6. William A. Bomberger & Gail E. Makinen, 2010. "Seigniorage, Legal Tender, And The Demand Notes Of 1861," Economic Inquiry, Western Economic Association International, vol. 48(4), pages 916-932, October.
    7. Farley Grubb, 2011. "State Redemption of the Continental Dollar, 1779-1790," Working Papers 11-08, University of Delaware, Department of Economics.
    8. Hugh Rockoff, 2015. "War and Inflation in the United States from the Revolution to the First Iraq War," NBER Working Papers 21221, National Bureau of Economic Research, Inc.
    9. Calomiris, Charles W. & Flandreau, Marc & Laeven, Luc, 2016. "Political foundations of the lender of last resort: A global historical narrative," Journal of Financial Intermediation, Elsevier, vol. 28(C), pages 48-65.
    10. Farley Grubb, 2006. "Theory, Evidence, and Belief—The Colonial Money Puzzle Revisited: Reply to Michener and Wright," Econ Journal Watch, Econ Journal Watch, vol. 3(1), pages 45-72, January.
    11. Farley Grubb, 2008. "The Continental Dollar: What Happened to It after 1779?," Working Papers 08-09, University of Delaware, Department of Economics.
    12. Farley Grubb, 2011. "The Continental Dollar: Initial Design, Ideal Performance, and the Credibility of Congressional Commitment," NBER Working Papers 17276, National Bureau of Economic Research, Inc.
    13. Douglas W. Diamond & Raghuram G. Rajan, 2006. "Money in a Theory of Banking," American Economic Review, American Economic Association, vol. 96(1), pages 30-53, March.
    14. Michael Sproul, 1998. "The Quantity Theory versus the Real Bills Doctrine in Colonial America," UCLA Economics Working Papers 775B, UCLA Department of Economics.
    15. Bordo, Michael D. & Vegh, Carlos A., 2002. "What if Alexander Hamilton had been Argentinean? A comparison of the early monetary experiences of Argentina and the United States," Journal of Monetary Economics, Elsevier, vol. 49(3), pages 459-494, April.
    16. Peter L. Rousseau, 2013. "Politics on the road to the U.S. monetary union," Vanderbilt University Department of Economics Working Papers 13-00006, Vanderbilt University Department of Economics.
    17. Charles W. Calomiris & Christopher Hanes, 1994. "Historical Macroeconomics and American Macroeconomic History," NBER Working Papers 4935, National Bureau of Economic Research, Inc.
    18. McCallum, Bennett T, 1992. "Money and Prices in Colonial America: A New Test of Competing Theories," Journal of Political Economy, University of Chicago Press, vol. 100(1), pages 143-161, February.
    19. Aizenman, Joshua & Marion, Nancy, 2011. "Using inflation to erode the US public debt," Journal of Macroeconomics, Elsevier, vol. 33(4), pages 524-541.
    20. Hugh Rockoff, 2015. "War and Inflation in the United States from the Revolution to the First Iraq War," Departmental Working Papers 201516, Rutgers University, Department of Economics.
    21. Farley Grubb, 2013. "The Continental Dollar: How the American Revolution was Financed with Paper Money—Chapter 3 Initial Design and Idea Performance," Working Papers 13-10, University of Delaware, Department of Economics.
    22. Bruce D. Smith, 1988. "The relationship between money and prices: some historical evidence reconsidered," Quarterly Review, Federal Reserve Bank of Minneapolis, issue Sum, pages 18-32.
    23. Pecquet, Gary M. & Thies, Clifford F., 2007. "Texas treasury notes and market manipulation, 1837-1842," Explorations in Economic History, Elsevier, vol. 44(1), pages 81-99, January.
    24. Farley Grubb, 2003. "Two Theories of Money Reconciled: The Colonial Puzzle Revisited with New Evidence," Working Papers 03-03, University of Delaware, Department of Economics.

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