Good or bad money? A comparative analysis of debasement in the late middle ages

David Chilosi and Oliver Volckart

No 10012, Working Papers from Economic History Society

Abstract: "This paper revisits the question of debasement by analysing a newly compiled dataset with a novel approach, as well as employing conventional methods. It finds that mercantile influence on monetary policies favoured relative stability, and wage-payers did not typically gain from silver debasement. Excess demand for bullion was not a major cause of debasement. Yet it is likely that monetary issues were almost as important as fiscal ones. Warfare was an important cause of silver, but not gold, debasement. The regime type had an importance comparable to that of warfare. Princes debased silver more often. It is likely that fiscal debasements were more frequent in principalities than in monetary unions and, especially, city-states. Probably princes debased for fiscal reasons also in the absence of exceptional needs. The conclusion discusses the implications of the findings."

JEL-codes: N00 (search for similar items in EconPapers)
Date: 2010-03
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.ehs.org.uk/dotAsset/5d077b2d-f910-44fa-b851-a32c261aad74.doc
Our link check indicates that this URL is bad, the error code is: 404 Not Found (http://www.ehs.org.uk/dotAsset/5d077b2d-f910-44fa-b851-a32c261aad74.doc [301 Moved Permanently]--> https://ehs.org.uk/dotAsset/5d077b2d-f910-44fa-b851-a32c261aad74.doc)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ehs:wpaper:10012

Access Statistics for this paper

More papers in Working Papers from Economic History Society Contact information at EDIRC.
Bibliographic data for series maintained by Chair Public Engagement Committe (currently David Higgins - Newcastle) ().