The Duration of Book Credit in Colonial New England
Account books show that merchants frequently used book credit in exchanges with consumers. The ability of credit to act as a substitute for currency in payments depends on the terms attached to the credit, such as its duration. Employing lifetable analysis and the singulate mean age at marriage, I arrive at expected duration estimates in excess of those in the literature. Given the expected duration, book credit seems a good substitute for other forms of payment. If this is the case, I argue that a major revision of literature on colonial monetary matters may be in order.
|Date of creation:||19 Jul 2004|
|Date of revision:|
|Note:||Type of Document - doc; pages: 27. Tables and Figures at the end.|
|Contact details of provider:|| Web page: http://econwpa.repec.org|
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.:
- Egnal, Marc, 1998. "New World Economies: The Growth of the Thirteen Colonies and Early Canada," OUP Catalogue, Oxford University Press, number 9780195114829, December.
When requesting a correction, please mention this item's handle: RePEc:wpa:wuwpeh:0407001. 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: (EconWPA)
If references are entirely missing, you can add them using this form.