; ; ; "ActiveFedora::Aggregation::ListSource" . a , ; "The Debasement Puzzle: An Essay on Medieval Monetary History "; ; "jannelle.ruswick@mpls.frb.org"; "Rolnick, Arthur J., 1944-", "Weber, Warren E.", "Velde, François R."; "Federal Reserve Bank of Minneapolis"; "This study establishes several facts about medieval monetary debasements: they were followed by unusually large minting volumes and by increased seigniorage; old and new coins circulated concurrently; and, at least some of the time, coins were valued by weight. These facts constitute a puzzle because debasements provide no additional inducements to bring coins to the mint. On theoretical and empirical grounds, the authors reject explanations based on by-tale circulation, nominal contracts, and sluggish price adjustment. They conclude that debasements pose a challenge to monetary economics."^^; "1997 Fall"; "2019-12-11T19:39:49.059034307+00:00"^^; "https://doi.org/10.21034/qr.2142"; ; "2020-10-23T21:38:31.834345134+00:00"^^; "Article"; "832", "665", "811"; "Quarterly review (Federal Reserve Bank of Minneapolis. Research Department)"; "Vol. 21, No. 4"; ; ; ; ; "Federal Reserve Bank of Minneapolis. Research Department"; """This article was originally published in the _Journal of Economic History_ (December 1996, vol. 56, no. 4, pp. 789–808). It is reprinted in the Federal Reserve Bank of Minneapolis Quarterly Review with the permission of Cambridge University Press. https://doi.org/10.1017/S0022050700017472 [Working Paper 536](https://doi.org/10.21034/wp.536)"""^^; ; "Publication" . ; .