The Search for Seignorage: Periodic Re-Coinage in Medieval Sweden

Särtryck nr 2017:29

Författare: Roger SvenssonÅr: 2017 Publikation: Scandinavian Economic History Review Årgång (nr): 65 (2) Sidor: 189–205
Artikeln online (behörighet kan krävas)
Preliminär version

A specific monetary tax − called periodic re-coinage − was applied for almost 200 years in large parts of medieval Europe. Old coins were frequently declared invalid and exchanged for new ones based on publicly announced dates and exchange fees. A theoretical framework of how periodic re-coinage works in practice is tested on Swedish coinage. The theory suggests that economic backwardness, limited monetisation of society and separate currency areas facilitated re-coinage. The Swedish experience is extraordinarily consistent with this theory. It is shown that Sweden adopted coin types similar to those minted in Continental Europe during the Middle Ages and the corresponding coinage and monetary taxation policies. Periodic re-coinage was applied with varying frequency from 1180 to 1290. However, monetisation increased in the late thirteenth century, making periodic re-coinage more difficult, and long-lived coins were introduced in 1290. With the end of periodic re-coinage, Swedish kings accelerated the debasement of long-lived coins, which continued until the beginning of the sixteenth century.

Svensson, Roger (2017), "The Search for Seignorage: Periodic Re-Coinage in Medieval Sweden". Scandinavian Economic History Review 65(2), 189–205.

Roger Svensson


Tel: 08 665 4549
Mobil: 070 491 0166

Aktuell forskare

Niclas Berggren docent, programchef


Institutionell ekonomi, politisk ekonomi och politiskt beteende.

Några av de frågor Niclas Berggren försöker besvara i sin forskning:

- Hur påverkar sociala variabler (som tillit, tolerans och religion) ekonomins funktionssätt?

- Finns det ett samband mellan graden av marknadsekonomi och sociala variabler ( som tillit och tolerans)?

- Vilken roll spelar skönhet för politikers valframgångar?


IFN kalendarium

Institutet för Näringslivsforskning, Grevgatan 34 - 2 tr, Box 55665, SE-102 15 Stockholm, Sweden | Tel: +46-(0)8-665 45 00 | info@ifn.se