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| Author: | Edvinsson, R. |
| Title: | Inflation before paper money: debasement cycles in Sweden–Finland 1350-1594 |
| Journal: | Scandinavian economic history review
2011 : VOL. 59:2, p. 166-183 |
| Index terms: | Sweden inflation money |
| Freeterms: | debasement |
| Language: | eng |
| Abstract: | Inflation is often associated with the spread of paper money, but fast price increases did happen before that as well, although the exact reasons are still a mystery. This article examines five debasement cycles during the metallic standard in Sweden-Finland 1350-1594. At the beginning of the debasement cycles coins often circulated by-tale, while towards the end they circulated by-weight, and it is this phenomenon that could explain the high inflation rates before the use of paper money. |
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