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Economic perspective on the political history of the Second Bank of the United States

  • Edward J. Green

The Second Bank of the United States was an institution of first-rank importance, both politically and economically, during the early nineteenth century. This article uses recent contributions to theory on industrial organization and monetary economics to argue tentatively that conflict between debtors and creditors may have played a larger role in the bank's fortunes than previously thought.

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Article provided by Federal Reserve Bank of Chicago in its journal Economic Perspectives.

Volume (Year): (2003)
Issue (Month): Q I ()
Pages: 59-67

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Handle: RePEc:fip:fedhep:y:2003:i:qi:p:59-67:n:v.27no.1
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  1. Green, Edward J & Porter, Robert H, 1984. "Noncooperative Collusion under Imperfect Price Information," Econometrica, Econometric Society, vol. 52(1), pages 87-100, January.
  2. Wright, David McCord, 1953. "Langdon Cheves and Nicholas Biddle: New Data for a New Interpretation," The Journal of Economic History, Cambridge University Press, vol. 13(03), pages 305-319, June.
  3. Patrick Bolton & Howard Rosenthal, 2002. "Political Intervention in Debt Contracts," Journal of Political Economy, University of Chicago Press, vol. 110(5), pages 1103-1134, October.
  4. Aizenman, Joshua, 1992. "Competitive Externalities and the Optimal Seigniorage," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 24(1), pages 61-71, February.
  5. Carlos E. Zarazaga, 1993. "Hyperinflations and moral hazard in the appropriation of seigniorage," Working Papers 93-26, Federal Reserve Bank of Philadelphia.
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