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

Format:

Book

Author/Creator:

Kim, Namsuk.

Contributor:

National Bureau of Economic Research.

Wallis, John Joseph.

Series:

Working Paper Series (National Bureau of Economic Research) no. w10108.

NBER working paper series no. w10108

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 2003.

Summary:

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.

Notes:

Print version record

November 2003.