A Bank of Issue Forged in Silver and Tears

2020 ◽  
pp. 10-29
Author(s):  
Einar Lie
Keyword(s):  
Exchange Rate ◽  
Market Value ◽  
Purchasing Power ◽  
Napoleonic Wars ◽  
Not Given ◽  
The Public ◽  
Paper Money ◽  
Monetary System ◽  
Monetary Unit ◽  
Government Financing

This chapter discusses the formation of Norges Bank. Norges Bank was formed in 1816 by resolution of the Storting, Norway’s new parliament. The bank was not given any explicit role in government financing. However, two tasks—providing credit for the public and stability in the monetary system—were fundamental to the bank’s creation and almost every discussion of its operations for the next quarter of a century. Moreover, when chartering Norges Bank in 1816, the Storting resolved that the Norwegian monetary unit—the speciedaler—should be convertible into silver at an exchange rate that was well above the note’s purchasing power and market value at the time. Indeed, one fundamental premise in all of the proposals that proliferated in 1816, influenced by the monetary chaos during the Napoleonic Wars, was that the value of the nation’s new paper money must be backed by silver.

scholarly journals STABILIZATION OF THE NATIONAL CURRENCY RATE IN ENSURING ANTI-CRISIS DEVELOPMENT AND ECONOMIC SECURITY OF UKRAINE

2020 ◽  
Author(s):  
Oleksii Miroshnychenko ◽  
Keyword(s):  
Exchange Rate ◽  
Economic Security ◽  
National Currency ◽  
Purchasing Power ◽  
Consumer Prices ◽  
Monetary Unit ◽  
The Exchange Rate ◽  
The Stability ◽  
The Relationship ◽  
Theoretical Foundations

The results of the study of the reasons for the decrease in the value of the national currency of Ukraine - the hryvnia are presented. A study of the theoretical foundations, political aspects and economic patterns of the devaluation of the hryvnia. The dynamics of consumer prices and the exchange rate of hryvnia to foreign currencies during 1992-2020 is studied. An analysis of the dynamics of the purchasing power of the hryvnia and the exchange rate is given. The inflationary nature of the positive dynamics of Ukraine's GDP is proved. Conclusions on the relationship between inflation and devaluation are presented. The necessity of ensuring the stability of the monetary unit in order to ensure anti-crisis development and increase the level of economic security of Ukraine is proved.

scholarly journals How Fiscal Policy Affects Prices: Britain's First Experience with Paper Money

2016 ◽  
Vol 76 (4) ◽  
pp. 1044-1077 ◽  
Author(s):  
Pamfili M. Antipa
Keyword(s):  
Exchange Rate ◽  
Fiscal Policy ◽  
Public Debt ◽  
Gold Standard ◽  
Price Level ◽  
Napoleonic Wars ◽  
Factors Affecting ◽  
Paper Money ◽  
The Future ◽  
Spot Exchange Rate

For almost 25 years between 1797 and 1821, the gold standard in Britain was suspended in order to finance the Napoleonic Wars, creating a paper pound or a fiat currency. Suspension was accompanied by substantial inflation and the accumulation of public debt. By identifying shifts in the spot exchange rate of paper pounds for gold, I document how contemporaries' expectations of how debt would be stabilized in the future shaped the pound's internal value. Thus, it is argued that during the “paper pound” period, fiscal prospects provided a third mechanism, beyond monetary and real factors, affecting the price level.

scholarly journals Effect of Exchange Rate Risk in the Market Value of Banks Stocks

2017 ◽  
Vol 1 (3) ◽  
pp. 145-178
Author(s):  
Hisham Talaat Abdel Hakim ◽  
Shakir Mohsin Saber Alwahili
Keyword(s):  
Exchange Rate ◽  
Foreign Currency ◽  
Market Value ◽  
Exchange Rate Risk ◽  
Correlation Relationship ◽  
The Public ◽  
Currency Exchange ◽  
Exchange Rate Fluctuations ◽  
Currency Exchange Rates ◽  
Rate Risk

     The research aims to study the nature of relationship between the risks of fluctuations in currency exchange rates and fluctuation in the market value of banks stocks of the research sample, In order to prove the hypothesis two indicators were chosen,the indices of exchange rate risk and the market value of common stocks were selected , period of (42) months ,extending from January (2014) until June (2017), was chosen, The research reached anumber of conclusion, but the most important is that the existence of correlation relationship and the affect of statistical significane pevails between the risks of exchange rate fluctuations and the market value of banks stock the sample of the study, Finally, the research recommends that the Iraqi banking departments work to diversify their banking services to the public and not only to their revenues derived from the sale of foreign currency only.

THE ROLE OF ACCOUNTING IN PUBLIC EXPENDITURE AND MONETARY POLICY IN THE FIRST CENTURY AD ROMAN EMPIRE

1995 ◽  
Vol 22 (2) ◽  
pp. 117-129 ◽  
Author(s):  
David Oldroyd
Keyword(s):  
Monetary Policy ◽  
Roman Empire ◽  
Financial Planning ◽  
Public Expenditure ◽  
First Century ◽  
Financial Control ◽  
The Public ◽  
Monetary System ◽  
Epigraphic Evidence

Previous authors have argued that Roman coinage was used as an instrument of financial control rather than simply as a means for the state to make payments, without assessing the accounting implications. The article reviews the literary and epigraphic evidence of the public expenditure accounts surrounding the Roman monetary system in the first century AD. This area has been neglected by accounting historians. Although the scope of the accounts supports the proposition that they were used for financial control, the impetus for keeping those accounts originally came from the emperor's public expenditure commitments. This suggests that financial control may have been encouraged by the financial planning that arose out of the exigencies of funding public expenditure. In this way these two aspects of monetary policy can be reconciled.

23. Heroism and Heartache: Representations of Horatio Nelson in 19th Century Popular British Music

2018 ◽  
Author(s):  
Sam Zimmerman
Keyword(s):  
19Th Century ◽  
British Society ◽  
Napoleonic Wars ◽  
Popular Song ◽  
Public And Private ◽  
Early 19Th Century ◽  
The Public ◽  
Historical Perspectives ◽  
British Music ◽  
The Public Sphere

This research project seeks to establish a print culture context for popular British music during the time of the Napoleonic Wars. More specifically, this project investigates representations of Horatio Nelson, the Battle of the Nile (1798), and the Battle of Trafalgar (1805) to understand representations of heroism and the nature of public and private spheres during the time of the Napoleonic Wars. By studying these representations in popular song, this research better understands the jingoistic tropes of British early 19th century Britain as well as attitudes towards heroism and the Napoleonic Wars. Songs used in this project are: “Nelson’s Tomb,” “The Battle of the Nile,” “The Death of Nelson,” “The Disbanded Soldier” “The Mouth of the Nile,” and “The Orphan Boy’s Tale.” The conflicting perspectives found in these songs provide a greater understanding of British culture during the Napoleonic Wars. Songs which exclusively represent Nelson as the quintessential heroic sailor in the public sphere and Britain’s military acts as divinely sanctioned, choose to ignore Nelson’s relationship in the private sphere, and contrast songs which reject unqualified celebration in the wake of war, and focus on mourning as a result of the war. This disparity reflects the complexity and internal tension of 19th century British society, specifically oppositional attitudes of jingoism and mourning, as well as the celebration of renowned heroes versus the disregard of unknown soldiers and the dead. By considering such historical perspectives on war, we might better understand the voices that speak of war in our own time.

Development options for the world monetary system

2021 ◽  
pp. 163-169
Author(s):  
Т.С. Аббасова ◽  
Т.Э. Аббасов
Keyword(s):  
Exchange Rate ◽  
Russian Federation ◽  
Foreign Exchange Market ◽  
Exchange Market ◽  
Resource Rent ◽  
Monetary System ◽  
The Russian Federation ◽  
Factors Of Influence ◽  
Parity Exchange ◽  
Natural Resource Rent

Выявлены факторы влияния валютной политики на валютный рынок и реальный сектор экономики Российской Федерации. Составлена модель для анализа факторов, влияющих на уровень заниженности или завышенности валютного курса Российской Федерации по отношению к паритетному валютному курсу. Показано, что уровень заниженности валютного курса отрицательно коррелирует с сальдо платежного баланса и ростом ВВП, при этом положительно коррелирует с уровнем инфляции, уровнем природной ренты в экономике и уровнем коррупции в стране. Предложены организационные мероприятия для повышения эффективности валютного контроля в России. The factors of influence of monetary policy on the foreign exchange market and the real sector of the economy of the Russian Federation are revealed. A model has been compiled to analyze the factors that influence the level of undervaluation or overvaluation of the Russian Federation exchange rate in relation to the parity exchange rate. It is shown that the level of undervaluation of the exchange rate negatively correlates with the balance of payments and GDP growth, while positively correlating with the level of inflation, the level of natural resource rent in the economy and the level of corruption in the country. Organizational measures are proposed to improve the efficiency of currency control in Russia.

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