Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/56243 
Autor:innen: 
Erscheinungsjahr: 
2005
Schriftenreihe/Nr.: 
SSE/EFI Working Paper Series in Economics and Finance No. 613
Verlag: 
Stockholm School of Economics, The Economic Research Institute (EFI), Stockholm
Zusammenfassung: 
The working of the asset currency provided by the Swedish note banking system in 1878-1901 is described. Natural and institutional conditions caused the demand for currency to peak in March and September, with troughs in July and January. The paper investigates how the Enskilda banks provided liquidity to solve the problem. This is done by describing how the volume of notes varied over the year, and how other balance sheet items co-moved with them. Strong seasonal co-variation is found particularly between lending and foreign payments media, varying like communicating vessels over the sailing season in May-October (when the sea was ice free and shipments were made).
Schlagwörter: 
Free banking
Elastic currency
Asset currency
Clearing mechanism
Note competition
Needs of trade
Lender of last resort
Sailing season
JEL: 
G21
N13
N23
Dokumentart: 
Working Paper

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