Financial market integration in the early modern period in Spain: Results from a threshold error correction model

Peter Bernholz and Peter Kugler

Economics Letters, 2011, vol. 110, issue 2, 93-96

Abstract: The application of a threshold error correction model to the exchange rates of the Spanish Ducado and the Dutch Groat in Seville and Medina del Campo in the 16th century indicates that the band of arbitrage inactivity was 6%.

Keywords: Financial; market; integration; Threshold; error; correction; Groat/Ducado; exchange; rates; Seville; Medina; del; Campo (search for similar items in EconPapers)
Date: 2011
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Citations: View citations in EconPapers (12)

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