A Policy Framework for the Bank of Amsterdam, 1736–1791
| العنوان: | A Policy Framework for the Bank of Amsterdam, 1736–1791 |
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| المؤلفون: | William Roberds, Stephen Quinn |
| المصدر: | The Journal of Economic History. 79:736-772 |
| بيانات النشر: | Cambridge University Press (CUP), 2019. |
| سنة النشر: | 2019 |
| مصطلحات موضوعية: | Economics and Econometrics, History, Loan, Open market operation, Fiat money, Economics, Econometrics and Finance (miscellaneous), Financial system, Business, Sterilization (economics), Seigniorage, Stock (geology), Profit (economics) |
| الوصف: | This article describes and measures how the Bank of Amsterdam supplied a successful fiat money in a world of specie by offering the unlimited repo of large coins at a near-zero rate. Our data from 1736 to 1791 finds that such liberal access led to volatile loan levels and that the Bank responded with sterilization by means of open market operations. In this way, the Bank held its money stock at a roughly constant level and helped stabilize its value. Profit was another part of the Bank’s policy framework, and the pursuit of seigniorage eventually compromised stabilization. |
| تدمد: | 1471-6372 0022-0507 |
| الوصول الحر: | https://explore.openaire.eu/search/publication?articleId=doi_________::e5515ebc70e737e7e7d3b657a55175afTest https://doi.org/10.1017/s0022050719000305Test |
| حقوق: | CLOSED |
| رقم الانضمام: | edsair.doi...........e5515ebc70e737e7e7d3b657a55175af |
| قاعدة البيانات: | OpenAIRE |
| تدمد: | 14716372 00220507 |
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