Household Debt in Seventeenth-Century Württemberg: Evidence from Personal Inventories

Sheilagh Ogilvie, Markus Küpker and Janine Maegraith

Cambridge Working Papers in Economics from Faculty of Economics, University of Cambridge

Abstract: The “less-developed” interior of early modern Europe, especially the rural economy, is often regarded as financially comatose. This paper investigates this view using a rich dataset of marriage and death inventories for seventeenth-century Germany. It first analyzes how borrowing varied with gender, age, marital status, occupation, lifecycle juncture, date, and asset portfolios. It then explores the characteristics of debts, examining borrowing purposes, familial links, intracommunal ties, and documentary instruments. It finds that ordinary people, even in a “less-developed” economy in rural central Europe, sought to invest profitably, smooth consumption, bridge low liquidity, and hold savings in financial form.

JEL-codes: D14 G11 N23 O12 (search for similar items in EconPapers)
Date: 2011-07-25
New Economics Papers: this item is included in nep-his
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:cam:camdae:1148

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