Money demand under free banking: Switzerland 1851-1906

Artikel

This paper studies money demand in Switzerland under free banking before the establishment of the Swiss National Bank. We find that, in addition to income, the banks' balance-sheet-to-GDP ratio and the number of banks were important determinants of long-run money demand. The former variable also played an important role in the monetary adjustment process. We also detect a strong positive long-run impact of real income on the bank's balance-sheet-total-to-GDP ratio and a strong long-run influence of real income and the interest rate spread on the number of banks.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Journal: Swiss Journal of Economics and Statistics ; ISSN: 2235-6282 ; Volume: 154 ; Year: 2018 ; Issue: 1 ; Pages: 2-8 ; Heidelberg: Springer

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Demand for Money ; Monetary Systems; Standards; Regimes; Government and the Monetary System; Payment Systems ; Economic History: Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations: Europe: Pre-1913
• Thema: Free banking ; Money demand ; Monetary dynamics ; Switzerland

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Gerlach, Stefan ; Kugler, Peter
• Ereignis: Veröffentlichung
• (wer): Springer
• (wo): Heidelberg
• (wann): 2018

Weitere Informationen

• DOI: doi:10.1186/s41937-017-0013-8
• Handle: http://hdl.handle.net/10419/259708
• Letzte Aktualisierung: 10.03.2025, 11:45 MEZ