The Big Problem of Large Bills: The Bank of Amsterdam and the Origins of Central Banking
This paper outlines a model of the first true central bank, the Bank of Amsterdam, founded in 1609. Employing a variant of the Freeman (1996) model of money and payments, we first analyze the problematic monetary situation in the Netherlands prior to the founding of the Bank. We then use the model to describe how the Bank could remedy this situation by creating a stable medium for the settlement of commercial obligations.
(This abstract was borrowed from another version of this item.)
|Date of creation:||2005|
|Date of revision:|
|Contact details of provider:|| Postal: Society for Economic Dynamics Marina Azzimonti Department of Economics Stonybrook University 10 Nicolls Road Stonybrook NY 11790 USA|
Web page: http://www.EconomicDynamics.org/
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Rolnick, Arthur J. & Velde, François R. & Weber, Warren E., 1996.
"The Debasement Puzzle: An Essay on Medieval Monetary History,"
The Journal of Economic History,
Cambridge University Press, vol. 56(04), pages 789-808, December.
- Arthur J. Rolnick & Francois R. Velde & Warren E. Weber, 1997. "The debasement puzzle: an essay on medieval monetary history," Quarterly Review, Federal Reserve Bank of Minneapolis, issue Fall, pages 8-20.
- François R. Velde & Warren E. Weber, 1998.
"A model of bimetallism,"
588, Federal Reserve Bank of Minneapolis.
- Fujiki, Hiroshi, 2003. "A model of the Federal Reserve Act under the international gold standard system," Journal of Monetary Economics, Elsevier, vol. 50(6), pages 1333-1350, September.
- Ruilin Zhou, 2000. "Understanding intraday credit in large-value payment systems," Economic Perspectives, Federal Reserve Bank of Chicago, issue Q III, pages 29-44.
- Charles Goodhart, 1988. "The Evolution of Central Banks," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262570734, June.
- Thomas J. Sargent & Neil Wallace, 1983.
"A model of commodity money,"
85, Federal Reserve Bank of Minneapolis.
- Freeman, Scott, 1996. "The Payments System, Liquidity, and Rediscounting," American Economic Review, American Economic Association, vol. 86(5), pages 1126-38, December.
- Sussman, Nathan & Zeira, Joseph, 2003.
"Commodity money inflation: theory and evidence from France in 1350-1436,"
Journal of Monetary Economics,
Elsevier, vol. 50(8), pages 1769-1793, November.
- Sussman, Nathan & Zeira, Joseph, 2002. "Commodity Money Inflation: Theory and Evidence from France in 1350-1436," Working Paper Series rwp02-008, Harvard University, John F. Kennedy School of Government.
- de Vries,Jan & van der Woude,Ad, 1997. "The First Modern Economy," Cambridge Books, Cambridge University Press, number 9780521578257, 1.
- de Vries,Jan & van der Woude,Ad, 1997. "The First Modern Economy," Cambridge Books, Cambridge University Press, number 9780521570619, 1.
When requesting a correction, please mention this item's handle: RePEc:red:sed005:318. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Christian Zimmermann)
If references are entirely missing, you can add them using this form.