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An experiment with multiple currencies: the American monetary system from 1838-60

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  • Shambaugh, Jay C.

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  • Shambaugh, Jay C., 2006. "An experiment with multiple currencies: the American monetary system from 1838-60," Explorations in Economic History, Elsevier, vol. 43(4), pages 609-645, October.
    • Handle: RePEc:eee:exehis:v:43:y:2006:i:4:p:609-645
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    1. Arthur J. Rolnick & Warren E. Weber, 1988. "Explaining the demand for free bank notes," Quarterly Review, Federal Reserve Bank of Minneapolis, vol. 12(Spr), pages 21-35.
    2. Senegas, Marc-Alexandre, 2000. "The Early Years of the Second Bank of the United States: An Historical Perspective on the Transition to EMU," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 5(1), pages 57-75, February.
    3. Gary Gorton, "undated". "The Enforceability of Private Money Contracts, Market Efficiency, and Technological Change," Rodney L. White Center for Financial Research Working Papers 19-90, Wharton School Rodney L. White Center for Financial Research.
    4. King, Robert G., 1983. "On the economics of private money," Journal of Monetary Economics, Elsevier, vol. 12(1), pages 127-158.
    5. Hugh Rockoff, 1999. "How Long Did It Take the United States to Become an Optimal Currency Area?," Departmental Working Papers 199910, Rutgers University, Department of Economics.
    6. Christina D. Romer & David H. Romer, 1989. "Does Monetary Policy Matter? A New Test in the Spirit of Friedman and Schwartz," NBER Chapters, in: NBER Macroeconomics Annual 1989, Volume 4, pages 121-184, National Bureau of Economic Research, Inc.
    7. Arthur J. Rolnick & Warren E. Weber, 1982. "The Free Banking Era: new evidence on laissez-faire banking," Staff Report 80, Federal Reserve Bank of Minneapolis.
    8. Rockoff, Hugh T., 1975. "Varieties of Banking and Regional Economic Development in the United States, 1840–1860," The Journal of Economic History, Cambridge University Press, vol. 35(1), pages 160-181, March.
    9. Gorton, Gary, 1999. "Pricing free bank notes," Journal of Monetary Economics, Elsevier, vol. 44(1), pages 33-64, August.
    10. Peter Temin, 1968. "The Economic Consequences of the Bank War," Journal of Political Economy, University of Chicago Press, vol. 76(2), pages 257-257.
    11. Bodenhorn,Howard, 2000. "A History of Banking in Antebellum America," Cambridge Books, Cambridge University Press, number 9780521662857.
    12. Howard Bodenhorn & Hugh Rockoff, 1992. "Regional Interest Rates in Antebellum America," NBER Chapters, in: Strategic Factors in Nineteenth Century American Economic History: A Volume to Honor Robert W. Fogel, pages 159-187, National Bureau of Economic Research, Inc.
    13. Arthur J. Rolnick & Warren E. Weber, 1998. "The Suffolk Banking System reconsidered," Working Papers 587, Federal Reserve Bank of Minneapolis.
    14. Eichengreen, Barry, 1996. "Golden Fetters: The Gold Standard and the Great Depression, 1919-1939," OUP Catalogue, Oxford University Press, number 9780195101133.
    15. Jerome W. Sheridan, 1996. "The Déjà vu of EMU: Considerations for Europe from Nineteenth Century America," Journal of Economic Issues, Taylor & Francis Journals, vol. 30(4), pages 1143-1161, December.
    16. Milton Friedman & Anna Jacobson Schwartz, 1970. "Monetary Statistics of the United States: Estimates, Sources, Methods," NBER Books, National Bureau of Economic Research, Inc, number frie70-1, March.
    17. Rockoff, Hugh, 1974. "The Free Banking Era: A Reexamination," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 6(2), pages 141-167, May.
    18. 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.
    19. Richard G. Anderson, 2003. "Some tables of historical U.S. currency and monetary aggregates data," Working Papers 2003-006, Federal Reserve Bank of St. Louis.
    20. Knodell, Jane, 1988. "Interregional Financial Intergration and the Banknote Market: The Old Northwest, 1815–1845," The Journal of Economic History, Cambridge University Press, vol. 48(2), pages 287-298, June.
    21. Fraas, Arthur, 1974. "The Second Bank of the United States: An Instrument for an Interregional Monetary Union," The Journal of Economic History, Cambridge University Press, vol. 34(2), pages 447-467, June.
    22. Bodenhorn, Howard, 2002. "Making The Little Guy Pay: Payments-System Networks, Cross-Subsidization, And The Collapse Of The Suffolk System," The Journal of Economic History, Cambridge University Press, vol. 62(1), pages 147-169, March.
    23. Officer, Lawrence H., 2002. "The U.S. Specie Standard, 1792-1932: Some Monetarist Arithmetic," Explorations in Economic History, Elsevier, vol. 39(2), pages 113-153, April.
    24. Gorton, Gary, 1996. "Reputation Formation in Early Bank Note Markets," Journal of Political Economy, University of Chicago Press, vol. 104(2), pages 346-397, April.
    25. Bodenhorn, Howard, 1992. "Capital Mobility and Financial Integration in Antebellum America," The Journal of Economic History, Cambridge University Press, vol. 52(3), pages 585-610, September.
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    Cited by:

    1. Beckworth, David, 2010. "One nation under the fed? The asymmetric effects of US monetary policy and its implications for the United States as an optimal currency area," Journal of Macroeconomics, Elsevier, vol. 32(3), pages 732-746, September.
    2. Farley Grubb, 2008. "Testing for the Economic Impact of the U.S. Constitution: Purchasing Power Parity across the Colonies versus across the States, 1748-1811," Working Papers 08-11, University of Delaware, Department of Economics.

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