Will Roberds is an economist emeritus of the research department of the Federal Reserve Bank of Atlanta. Steve Quinn is a professor of economics at Texas Christian University. In Will and Steve's first appearance on the show they discuss the historical significance of the Bank of Amsterdam, The use of ledger at the Bank of Amsterdam, It's use of repo and open market operations, it's connection to central banking today, and much more.

Check out the transcript for this week's episode, now with links.

Recorded on September 23rd, 2025

Subscribe to David's Substack: Macroeconomic Policy Nexus

Follow David Beckworth on X: @DavidBeckworth

Follow the show on X: @Macro_Musings

Check out our Macro Musings merch!

Subscribe to David's new BTS YouTube Channel

Timestamps

00:00:00 - Intro

00:00:53 - Bank of Amsterdam

00:10:31 - Bank of Amsterdam's Ledger

00:32:09 - Motivations

00:36:49 - Seven Years' War

00:40:53 - The Repo Versus the Open Market

00:56:30 - Outro