Los problemas del vellón en el siglo XVII. ¿Se consiguió abaratar la negociación del crédito imponiendo precios máximos a la plata?

Carlos Álvarez Nogal

Revista de Historia Económica / Journal of Iberian and Latin American Economic History, 2001, vol. 19, issue S1, 17-36

Abstract: The purpose of this paper is to analyze the effects of the control of the exchange rate vellón-silver over the prices in the Castile Crown's short-run credit. It compares the official price rates with the prices signed in the credit contracts of foreign financiers during the first half of the XVII century. The paper uses concepts from the price control theory and research done on black markets. There are many evidences that suggest that the official rates did not work to control the price of precious metals. In fact, the Crown had to pay the costly real price of the silver when it needed. Nevertheless, this policy served to change the behaviour of the financiers in the markets.

Date: 2001
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