| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w5381 |
| 来源ID | Working Paper 5381 |
| Turning Points in the Civil War: Views from the Greenback Market | |
| Kristen L. Willard; Timothy W. Guinnane; Harvey S. Rosen | |
| 发表日期 | 1995-12-01 |
| 出版年 | 1995 |
| 语种 | 英语 |
| 摘要 | In early 1862, the United States government began issuing Greenbacks, a legal tender currency that was not convertible into gold. The government promised to redeem the Greenbacks in gold eventually, but speculators understood that the probability of redemption depended on Union Army military fortunes and political developments that affected the total cost of the war. To serve the speculative interest in gold, a market emerged for the purpose of trading Greenbacks for gold dollars. Because the market price of a Greenback reflected the public's perceptions of future war costs, the movement of these prices provides unique insights into how people at the time perceived various events. We use daily quotations of the gold price of Greenbacks to identify a set of dates during the Civil War that market participants regarded as turning points. In some cases, these dates coincide with events familiar from conventional historical accounts of the war. In other instances, however, market participants reacted strongly to events that historians have not viewed as very significant. |
| 主题 | History ; Financial History ; Financial Economics ; Financial Markets |
| URL | https://www.nber.org/papers/w5381 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/562836 |
| 推荐引用方式 GB/T 7714 | Kristen L. Willard,Timothy W. Guinnane,Harvey S. Rosen. Turning Points in the Civil War: Views from the Greenback Market. 1995. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w5381.pdf（445KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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