Turning Points during the U.S. Civil War: Views from the Grayback Market
This paper introduces a new high frequency time series of Confederate money prices taken from the newspapers of Richmond and leading cities in the Eastern Confederacy. The new Grayback series is tested for “turning points.” The empirical analysis suggests that “turning points” in the Confederate Grayback market were different from those identified in the Union Greenback market by Willard et al. (1996). It appears that war did not always have symmetric effects on Northern and Southern money prices.
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- Burdekin Richard C. K. & Langdana Farrokh K., 1993. "War Finance in the Southern Confederacy, 1861-1865," Explorations in Economic History, Elsevier, vol. 30(3), pages 352-376, July.
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- Anindya Banerjee & Robin L. Lumsdaine & James H. Stock, 1990. "Recursive and Sequential Tests of the Unit Root and Trend Break Hypothesis: Theory and International Evidence," NBER Working Papers 3510, National Bureau of Economic Research, Inc.
- Marc D. Weidenmier, . "The Market for Confederate Cotton Bonds," Claremont Colleges Working Papers 1999-12, Claremont Colleges.
- Davis, George K. & Pecquet, Gary M., 1990. "Interest Rates in the Civil War South," The Journal of Economic History, Cambridge University Press, vol. 50(01), pages 133-148, March.
- Kristen L. Willard & Timothy W. Guinnane & Harvey S. Rosen, 1995.
"Turning Points in the Civil War: Views from the Greenback Market,"
NBER Working Papers
5381, National Bureau of Economic Research, Inc.
- Willard, Kristen L & Guinnane, Timothy W & Rosen, Harvey S, 1996. "Turning Points in the Civil War: Views from the Greenback Market," American Economic Review, American Economic Association, vol. 86(4), pages 1001-18, September.
- McCandless, George T, Jr, 1996. "Money, Expectations, and U.S. Civil War," American Economic Review, American Economic Association, vol. 86(3), pages 661-71, June.
- Weidenmier, Marc D., 2000. "The Market for Confederate Cotton Bonds," Explorations in Economic History, Elsevier, vol. 37(1), pages 76-97, January.
- Richard C. K. Burdekin & Marc D. Weidenmier, 2001.
"Inflation Is Always and Everywhere a Monetary Phenomenon: Richmond vs. Houston in 1864,"
American Economic Review,
American Economic Association, vol. 91(5), pages 1621-1630, December.
- Richard C.K. Burdekin & Marc D. Weidenmier, . "Inflation is Always and Everywhere a Monetary Phenomenon: Richmond vs. Houston in 1864," Claremont Colleges Working Papers 1999-31, Claremont Colleges.
- Pecquet, Gary M., 1987. "Money in the trans-Mississippi confederacy and the confederate currency reform act of 1864," Explorations in Economic History, Elsevier, vol. 24(2), pages 218-243, April.
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