Journal Article

Paper Money and Inflation in Colonial America


Abstract: Inflation is often thought to be the result of excessive money creation?too many dollars chasing too few goods. While in principle this is true, in practice there can be a lot of leeway, so long as trust in the monetary authority?s ability to keep things under control remains high. The American colonists? experience with paper money illustrates how and why this is so and offers lessons for the modern day.

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File(s): File format is text/html https://doi.org/10.26509/frbc-ec-201506
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Bibliographic Information

Provider: Federal Reserve Bank of Cleveland

Part of Series: Economic Commentary

Publication Date: 2015

Issue: May

Order Number: 6