The Market for American State Government Bonds in Britain and the United States, 1830-1843 / Namsuk Kim, John Joseph Wallis.

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Kim, Namsuk

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Material type: Text

TextSeries: Working Paper Series (National Bureau of Economic Research) ; no. w10108.Publication details: Cambridge, Mass. National Bureau of Economic Research 2003.Description: 1 online resource: illustrations (black and white)Subject(s):

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Abstract: In the 1830s the British and American economies were hit by a series of shared macroeconomic shocks. This paper investigates the role of markets for Americas State bonds in Britain and the U.S. during and between the crises in 1837, 1839, and 1842. There is strong evidence that the crises in 1839 and 1842 originated in the U.S. and spread to Britain. There is also strong evidence that credit markets for American state bonds were tighter in the U.S. than in London between 1839 and 1842.

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Item type	Home library	Collection	Call number	Status	Date due	Barcode	Item holds
Working Paper	Biblioteca Digital	Colección NBER	nber w10108 (Browse shelf(Opens below))	Not For Loan

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November 2003.

In the 1830s the British and American economies were hit by a series of shared macroeconomic shocks. This paper investigates the role of markets for Americas State bonds in Britain and the U.S. during and between the crises in 1837, 1839, and 1842. There is strong evidence that the crises in 1839 and 1842 originated in the U.S. and spread to Britain. There is also strong evidence that credit markets for American state bonds were tighter in the U.S. than in London between 1839 and 1842.