1996
DOI: 10.2307/2078023
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War Debt, Moral Hazard, and the Financing of the Confederacy

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Cited by 12 publications
(7 citation statements)
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“…The relation between the Confederate money supply and mflauon has been explored by Lerner (1955Lerner ( , 1956, Godfrey (1978), and Burdekin and Weidenmier (2001). The role of fiscal policy and currency reforn1s has been examined by Lerner (1954), Pecquet (1987, Burdekin and Langdana (1993), Grossman and Han (1996), and Burdekin and Weidenmier (2003). TI1e behavior of financial markets during the conflict has been studied by Roll (1972), Calomiris (1988), Davis and Pecquet (1990), Weidenmier (2000), and Brown and Burdekin (2000).…”
Section: The Establishment Of Confederate Currency As a Medium Of Exchangementioning
confidence: 99%
“…The relation between the Confederate money supply and mflauon has been explored by Lerner (1955Lerner ( , 1956, Godfrey (1978), and Burdekin and Weidenmier (2001). The role of fiscal policy and currency reforn1s has been examined by Lerner (1954), Pecquet (1987, Burdekin and Langdana (1993), Grossman and Han (1996), and Burdekin and Weidenmier (2003). TI1e behavior of financial markets during the conflict has been studied by Roll (1972), Calomiris (1988), Davis and Pecquet (1990), Weidenmier (2000), and Brown and Burdekin (2000).…”
Section: The Establishment Of Confederate Currency As a Medium Of Exchangementioning
confidence: 99%
“…According to Hirshleifer (1995), it is necessary to specify a technology of conflict in order to determine the probability of defeat. In Grossman and Han (1996), p depends on a function of war spending,…”
Section: Determining the Probability Of Avoiding Defeatmentioning
confidence: 99%
“…According toGrossman and Han (1996), the agent is an international creditor. Whatever the nationality of the agent, he maximizes his utility over time and is interested in the expected value of public debt before subscribing.…”
mentioning
confidence: 99%
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“…These cotton bonds represented the Confederacy's sole formal external loan. Grossman and Han (1996) argue that the Confederacy would have undertaken more foreign loans had she had fewer mobilizable resources. As it was, however, military reverses in the summer of 1863 made it infeasible for the Confederacy to pursue any further Erlangertype loans --as acknowledged by the Confederacy's own fiscal agent in Paris, Colin…”
mentioning
confidence: 99%