How a Ledger Became a Central Bank: A Monetary History of the Bank of Amsterdam

The Bank of Amsterdam (Bank) was a dominant central bank with a global impact on money and credit before the US Federal Reserve and the Bank of England. How a Ledger Became a Central Bank offers a new and detailed portrait of this institution, describing how it struggled to manage its money before adopting fiat money and a repurchase facility. It also discusses techniques the Bank used to monitor and stabilize money stock and how foreign sovereigns could exploit its liquidity for state finance.

Format: Paperback / softback
Length: 400 pages
Publication date: 30 November 2023
Publisher: Cambridge University Press

Before the US Federal Reserve and the Bank of England, the Bank of Amsterdam (Bank) held a dominant position as a central bank with a global impact on money and credit. How a Ledger Became a Central Bank, drawing on extensive archival data and rich secondary literature, presents a new and detailed portrait of this historically significant institution. It explores the Bank's challenges in managing its money before adopting a modern solution: fiat money in combination with a repurchase facility and discretionary open market operations. The book delves into the techniques employed by the Bank to monitor and stabilize money stock, as well as how foreign sovereigns could leverage the Bank's liquidity for state finance. Concluding with a discussion of commonalities between the Bank of Amsterdam and later central banks, including the Federal Reserve, this book has sparked considerable excitement among scholars of central banking and the role of money in the macroeconomy.

Before the US Federal Reserve and the Bank of England, the Bank of Amsterdam (Bank) held a dominant position as a central bank with a global impact on money and credit. How a Ledger Became a Central Bank, drawing on extensive archival data and rich secondary literature, presents a new and detailed portrait of this historically significant institution. It explores the Bank's challenges in managing its money before adopting a modern solution: fiat money in combination with a repurchase facility and discretionary open market operations. The book delves into the techniques employed by the Bank to monitor and stabilize money stock, as well as how foreign sovereigns could leverage the Bank's liquidity for state finance. Concluding with a discussion of commonalities between the Bank of Amsterdam and later central banks, including the Federal Reserve, this book has sparked considerable excitement among scholars of central banking and the role of money in the macroeconomy.

Weight: 528g
Dimension: 152 x 227 x 25 (mm)
ISBN-13: 9781108706155