TY  - SER
AU  - Bolt, Wilko
AU  -  Frost, Jon
AU  -  Shin, Hyun Song
AU  -  Wierts, Peter
TI  - The Bank of Amsterdam and the Limits of Fiat Money
SN  - 0022-3808
PB  - Journal of Political Economy
KW  -  Central Banks
KW  -  Fiat Money
KW  - Bank of Amsterdam
N2  - Central banks can operate with negative equity, and many have done so in history without undermining trust in fiat money. However, there are limits. How negative can central bank equity be before fiat money loses credibility? We address this question usin
UR  - https://www.journals.uchicago.edu/doi/10.1086/732524
ER  -