Abstract

References (23)

Beta

Citations (1)

Beta

Download | Share | Email | Add to Briefcase | Buy Hard Copy

The Big Problem of Large Bills: The Bank of Amsterdam and the Origins of Central Banking

Stephen Quinn
Texas Christian University - Department of Economics

William Roberds
Federal Reserve Bank of Atlanta

August 2005

Abstract:
This paper outlines a model of the first true central bank, the Bank of Amsterdam, founded in 1609. Employing a variant of the Freeman (1996) model of money and payments, we first analyze the problematic monetary situation in the Netherlands prior to the founding of the Bank. We then use the model to describe how the Bank could remedy this situation by creating a stable medium for the settlement of commercial obligations.

Keywords: money, central banks, coinage, debasement

JEL Classifications: E42, E52, N13

Working Paper Series

Date posted: October 11, 2005 ; Last revised: October 15, 2005

Suggested Citation

Quinn, Stephen and Roberds, William, The Big Problem of Large Bills: The Bank of Amsterdam and the Origins of Central Banking (August 2005). Available at SSRN: http://ssrn.com/abstract=814004

Export to: Export Citation What's this?

Contact Information

William Roberds (Contact Author) Federal Reserve Bank of Atlanta ( email ) 1000 Peachtree Street N.E. Atlanta, GA 30309-4470 United States 404-498-8970 (Phone) 404-498-8956 (Fax)
Stephen Quinn Texas Christian University - Department of Economics ( email ) Fort Worth, TX 76129 United States