An Empirical Assessment of the Swedish Bullionist Controversy

Herger, Nils (2019). An Empirical Assessment of the Swedish Bullionist Controversy (In Press). The Scandinavian journal of economics Wiley 10.1111/sjoe.12337

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In the eighteenth century, a fierce political debate broke out in Sweden about the causes of an extraordinary depreciation of the currency. More specifically, the deteriorating value of the Swedish currency was discretionarily blamed on monetary causes, e.g. the overissuing of banknotes; or nonmonetary causes, such as balance‐of‐payments deficits. This paper provides a comprehensive empirical assessment of this so‐called “Swedish Bullionist Controversy’’. The results of vector autoregressions suggest that increasing amounts of paper money did give rise to inflation and a depreciation of the exchange rate. Conversely, nonmonetary factors were probably less important for these developments.

Item Type:

Journal Article (Original Article)

Division/Institute:

03 Faculty of Business, Economics and Social Sciences > Department of Economics
03 Faculty of Business, Economics and Social Sciences > Department of Economics > Institute of Economics

UniBE Contributor:

Herger, Nils

Subjects:

300 Social sciences, sociology & anthropology > 330 Economics

ISSN:

1467-9442

Publisher:

Wiley

Language:

English

Submitter:

Dino Collalti

Date Deposited:

07 Oct 2019 09:43

Last Modified:

12 Nov 2019 15:48

Publisher DOI:

10.1111/sjoe.12337

BORIS DOI:

10.7892/boris.129861

URI:

https://boris.unibe.ch/id/eprint/129861

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