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How Much Debt Is Too Much? What History Shows
Vandenbroucke, Guillaume (2021-10-12)
The U.K. had relatively high levels of public debt in the past 300 years, with its debt-to-GDP ratio exceeding 200% at times.
On the Economy

Journal Article
The relationship between money and prices: some historical evidence reconsidered
Smith, Bruce D. (1988-07)
This article describes a debate about the validity of the quantity theory of money and offers further evidence against it. The evidence is primarily from the North American colonies of Virginia, New York, and Pennsylvania and regards the issue of measuring the money supply. Studies have shown that changes in colonial money and inflation are inconsistent with the quantity theory. Some have argued that those studies measure money wrong: specie belongs in the measure because the colonies were on a fixed exchange rate system with Britain; changes in colonial paper money were offset by specie ...
Quarterly Review , Volume 12 , Issue Sum , Pages 18-32

Conference Paper
Trade policy and income distribution
Leamer, Edward E. (1991)
Proceedings

Conference Paper
Losing our marbles in the new century?: the great rebalancing in historical perspective
Meissner, Christopher M.; Taylor, Alan M. (2006)
We focus on the two eras of globalization: then (the period 1870 to 1913) and now (the period since the 1970s). We look at the special position in the global macroeconomy of the hegemons in each era: Britain then, and the United States now. And adducing historical data to match what we know from the contemporary record, we proceed in the tradition of New Comparative Economic History to see what lessons the past might have for the present.
Conference Series ; [Proceedings] , Volume 51

Report
Payment intermediation and the origins of banking
McAndrews, James J.; Roberds, William (1999)
The medieval banks of continental Europe facilitated trade by serving as payment intermediaries. Depositors commonly would pay one another by transferring bank balances with the aid of overdraft credit. We model this process in an environment of intermediate good exchange with incomplete contract enforcement. Our model suggests that the early banks were capable of accessing the ?netting credit? that exists by virtue of there being a high proportion of offsetting transactions in an economy. Individual traders are unable to net their individual positions because of difficulty in enforcing ...
Staff Reports , Paper 85

Journal Article
Inflation and monetary growth : experience in fourteen countries of Europe and North America since 1958
Selden, Richard T. (1981-11)
An abstract for this article is not available.
Economic Review , Volume 67 , Issue Nov , Pages 19-31

Journal Article
Economic History: Maggie Lena Walker
Mullin, John (2022-10)
Maggie Lena Walker built the St. Luke Penny Savings Bank to last. When it opened its doors in Richmond's Jackson Ward district in 1903, Walker became the first Black woman to establish a bank in the United States. She would stand at its helm as president for nearly 30 years, safely steering it through periodic bouts of economic turmoil, eventually increasing its assets more than tenfold. To cap off her career, she would solidify the bank's long-term prospects by orchestrating mergers with two other banks during the depths of the Great Depression.
Econ Focus , Volume 22 , Issue 4Q , Pages 12-15

Journal Article
Wildcat banking, banking panics, and free banking in the United States
Dwyer, Gerald P. (1996-12)
Banks in the United States issued currency with no oversight of any kind by the federal goverment from 1837 to 1865. Many of these banks were part of "free banking" systems with no discretionary approval of entry into banking, and these banks issued notes that were used for payments in transactions just as Federal Reserve notes are today. There was no central bank or goverment insurance, and the ultimate guarantee of the value of a bank's notes was the value of the bank's assets. As the author indicates, these banknotes have similarities to some forms of electronic money. ; Free banking in ...
Economic Review , Volume 81 , Issue Dec , Pages 1-20

Journal Article
Economic history : The Queen's private Navy
Price, David A. (2010-10)
Related links: https://www.richmondfed.org/-/media/richmondfedorg/publications/research/econ_focus/2010/q4/economic_history_weblinks.cfm
Econ Focus , Volume 14 , Issue 4Q , Pages 32-34

Working Paper
International money and common currencies in historical perspective
Lothian, James R.; Dwyer, Gerald P. (2002)
The authors review the history of international monies and the theory related to their adoption and use. There are four key characteristics of these currencies: high unitary value; relatively low inflation rates for long periods; issuance by major economic and trading powers; and spontaneous, as opposed to planned, adoption internationally. The economic theory of the demand for money provides support for the importance of these characteristics. The value of a unit is arbitrary for a fiat money, but the other characteristics are likely to be important for determining any fiat money that will ...
FRB Atlanta Working Paper , Paper 2002-7

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