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What price a roof? Housing and the cost of living in 16th-century Toledo

Mauricio Drelichman and David Gonzalez Agudo ()
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David Gonzalez Agudo: Universidad Complutense de Madrid

No 12004, Working Papers from Economic History Society

Abstract: "Data on housing costs and rental markets for the early modern period are notoriously scarce. We build a database of rent paid on 183 properties belonging to the Cathedral Chapter of Toledo between 1489 and 1600. Using detailed information on location, physical characteristics of the property, and the identity of the renter, we reconstruct housing costs for various social groups and trace the effect of exogenous shocks on the rental market. We then use our data to explore the impact of adding rent to early modern price indices and estimates of living standards. Price indices show a moderate effect. When comparing the living standards of Toledo to two northern European locations, the addition of rent reduces the gap between them by up to 18%."

Keywords: "housing; rent indices; living standards; early modern period; Spain" (search for similar items in EconPapers)
JEL-codes: R21 R31 N34 N94 (search for similar items in EconPapers)
Date: 2012-03
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