A re-examination of the empirical evidence concerning colonial Virginia's paper money, 1755-1774: a comment on Grubb

Ronald Michener

Financial History Review, 2019, vol. 26, issue 3, 389-399

Abstract: Farley Grubb's recent article in the Financial History Review contains econometric results designed to support his theoretical propositions concerning the paper money of the American colonies. This comment demonstrates that some of his results are spurious and the rest are based on using incorrect testing procedures and incorrect critical values of test statistics.

Date: 2019
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