… However, in our model the major determinant of whether banknotes circulate outside their …
four facts about banknote discounts that we want to match. In Section 3, we present the model …

… Discounts vary over time for a specific bank and from quarter to quarter between banks. The
discount samples contain charter bank notes, but I focus on free bank notes for two reasons. …

… bank note discounts or prices from a bank note reporter, as explained below. The data consist
of monthly bank note … traded in the Philadelphia bank note market from February 1839 to …

… model where banks issue circulating liabilities (bank notes) backed by investment projects.
Agents in the model … non-local bank notes sell at a discount relative to local bank notes when …

… an endogenous growth model, and use the model to simulate, for a sample of developing
countries, steady‐state growth‐rate gains from various degrees of banknote deregulation. The …

… With these assumptions we can ask how a bank's note price (discount from par) is determined
at any given location. It is easy to price the note of a bank when the note is at the same …

Menzies (2004) uses a ‘cohorts approach’ to model banknote printing costs. This paper
proposes a ‘generational approach’ that allows for more realistic assumptions concerning …

… We discount the intervention variable iv0810_050 because it is unknown at the time when
the in-sample forecasts (or rather pseudo out-of-sample forecasts) are made. April 2010 is …

… perceive greater discounts on price pairs (current price/reduced price) containing smaller
units (eg, $23/$22) relative to prices with larger units (eg, $19/$18) even though the discount is …

… For the case of a sufficiently small banking sector, a sufficiently high discount factor, and a
sufficiently small p, we show that there exists a simple scheme that approximates the optimum. …