Herger, Nils (2021). Regulated free banking in Switzerland (1881-1907). Swiss journal of economics and statistics, 157(1) Springer 10.1186/s41937-021-00078-w
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The free-banking history of Switzerland is subdivided into periods with unfettered competition (1826–1881), and strict banknote regulation (1881–1907). This paper suggests that the Federal Banknote Act of 1881 was introduced to remedy the fragmentation of the unfettered-competition period, during which private note-issuing banks were unable to issue standardised paper money. Although the corresponding minimum-reserve and mutual-acceptance rules led to a standardisation, they created new problems. For example, these regulatory interventions reduced the flexibility (or “elasticity”) of the paper-money supply. It turned out that a central note-issuing bank is needed to supply adequate amounts of standardised banknotes.
Item Type: |
Journal Article (Original Article) |
|---|---|
Division/Institute: |
03 Faculty of Business, Economics and Social Sciences > Department of Economics |
UniBE Contributor: |
Herger, Nils |
Subjects: |
300 Social sciences, sociology & anthropology > 330 Economics |
ISSN: |
2235-6282 |
Publisher: |
Springer |
Language: |
English |
Submitter: |
Dino Collalti |
Date Deposited: |
28 Jan 2022 07:51 |
Last Modified: |
05 Dec 2022 16:00 |
Publisher DOI: |
10.1186/s41937-021-00078-w |
BORIS DOI: |
10.48350/163365 |
URI: |
https://boris.unibe.ch/id/eprint/163365 |
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