The economics of debt clearing mechanisms
We examine the evolution of decentralized clearinghouse mechanisms from the 13th to the 18th century; in particular, we explore the clearing of non- or limitedtradable debts like bills of exchange. We construct a theoretical model of these clearinghouse mechanisms, similar to the models in the theoretical matching literature, and show that specific decentralized multilateral clearing algorithms known as rescontre, skontrieren or virement des parties used by merchants were efficient in specific historical contexts. We can explain both the evolutionary self-organizing emergence of late medieval and early modern fairs, and its robustness during the 17th and 18th century.
|Date of creation:||2010|
|Contact details of provider:|| Postal: Garystr. 21, 14195 Berlin (Dahlem)|
Phone: (030) 838 2272
Fax: (030) 838 2129
Web page: http://www.wiwiss.fu-berlin.de/en/index.html
More information through EDIRC
References listed on IDEAS
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.:
- Alvin E. Roth & Tayfun Sönmez & M. Utku Ünver, 2004.
"Pairwise Kidney Exchange,"
Game Theory and Information
0408001, EconWPA, revised 16 Feb 2005.
- Alvin E. Roth & Tayfun Sonmez & M. Utku Unver, 2004. "Pairwise Kidney Exchange," NBER Working Papers 10698, National Bureau of Economic Research, Inc.
- Alvin E. Roth & Tayfun Sonmez & M. Utku Unver, 2004. "Pairwise Kidney Exchange," Levine's Bibliography 122247000000000350, UCLA Department of Economics.
- Alvin E. Roth & Tayfun Sönmez & M. Utku Ünver, 2004. "Pairwise Kidney Exchange," Boston College Working Papers in Economics 620, Boston College Department of Economics.
- Boerner, Lars & Ritschl, Albrecht, 2011.
"Communal Responsibility and the Coexistence of Money and Credit Under Anonymous Matching,"
CEPR Discussion Papers
8184, C.E.P.R. Discussion Papers.
- Lars Boerner & Albrecht Ritschl, 2010. "Communal Responsibility and the Coexistence of Money and Credit Under Anonymous Matching," SFB 649 Discussion Papers SFB649DP2010-060, Sonderforschungsbereich 649, Humboldt University, Berlin, Germany.
- Lars Boerner & Albrecht Ritschl, 2011. "Communal Responsibility and the Coexistence of Money and Credit under Anonymous Matching," Working Papers 0006, European Historical Economics Society (EHES).
- Lars Boerner & Albrecht Ritschl, 2010. "Communal Responsibility and the Coexistence of Money and Credit Under Anonymous Matching," CEP Discussion Papers dp1034, Centre for Economic Performance, LSE.
- Pezzolo, Luciano & Tattara, Giuseppe, 2008. "“Una fiera senza luogo”: Was Bisenzone an International Capital Market in Sixteenth-Century Italy?," The Journal of Economic History, Cambridge University Press, vol. 68(04), pages 1098-1122, December.
- William Roberds & Stephen Quinn, 2007. "The Bank of Amsterdam and the Leap to Central Bank Money," American Economic Review, American Economic Association, vol. 97(2), pages 262-265, May.
- Ehlers, Lars, 2002. "Coalitional Strategy-Proof House Allocation," Journal of Economic Theory, Elsevier, vol. 105(2), pages 298-317, August.
- Stephen F. Quinn & William Roberds, 2006. "An economic explanation of the early Bank of Amsterdam, debasement, bills of exchange, and the emergence of the first central bank," FRB Atlanta Working Paper 2006-13, Federal Reserve Bank of Atlanta.
- Greif, Avner, 1993. "Contract Enforceability and Economic Institutions in Early Trade: the Maghribi Traders' Coalition," American Economic Review, American Economic Association, vol. 83(3), pages 525-548, June.
- Lars Boerner & Albrecht Ritschl, 2009.
"The Economic History of Sovereignty: Communal Responsibility, the Extended Family, and the Firm,"
Journal of Institutional and Theoretical Economics (JITE),
Mohr Siebeck, Tübingen, vol. 165(1), pages 99-112, March.
- Lars Boerner & Albrecht Ritschl, 2008. "The economic history of sovereignty: communal responsibility, the extended family, and the firm," Economic History Working Papers 22307, London School of Economics and Political Science, Department of Economic History.
- Avner Greif, 2002. "Institutions and Impersonal Exchange: From Communal to Individual Responsibility," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 158(1), pages 168-168, March.
- Roth, Alvin & Ãœnver, M. Utku & SÃ¶nmez, Tayfun, 2004.
2580565, Harvard University Department of Economics.
- Greif, Avner & Milgrom, Paul & Weingast, Barry R, 1994. "Coordination, Commitment, and Enforcement: The Case of the Merchant Guild," Journal of Political Economy, University of Chicago Press, vol. 102(4), pages 745-776, August.
- Abdulkadiroglu, Atila & Sonmez, Tayfun, 1999. "House Allocation with Existing Tenants," Journal of Economic Theory, Elsevier, vol. 88(2), pages 233-260, October.
When requesting a correction, please mention this item's handle: RePEc:zbw:fubsbe:201027. 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: (ZBW - German National Library of Economics)
If references are entirely missing, you can add them using this form.