EconPapers    
Economics at your fingertips  
 

Equity short-term finance under Philip II, with an option to long-term funded debt

Carlos Álvarez-Nogal () and Christophe Chamley
Additional contact information
Christophe Chamley: Boston University

No 79, Working Papers from European Historical Economics Society (EHES)

Abstract: Men of finance raised funds for loans, asientos, to Philip II by trading short-term financial instruments in credit markets and by selling long-term annuities, juros. These activities are illustrated by an asiento with the Maluenda brothers (July 13, 1595), where short-term credit secured by the equity of the fleets from the Indies were, for more than one half, converted into funded life annuities that were sold by the Maluendas. The new analysis of this asiento relies on its dossier of more than 400 pages in the archives of Simancas, including the contract, the monitoring attachments, and the final audit.

Keywords: public finances; Philip II; asientos; juros; methodology; archives; verification (search for similar items in EconPapers)
JEL-codes: N01 N13 N23 N43 (search for similar items in EconPapers)
Pages: 37 pages
Date: 2015-06
New Economics Papers: this item is included in nep-acc and nep-his
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://www.ehes.org/wp/EHES_79.pdf (application/pdf)

Related works:
Working Paper: Equity short-term finance under Philip II, with an option to long-term funded debt (2015) Downloads
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:hes:wpaper:0079

Access Statistics for this paper

More papers in Working Papers from European Historical Economics Society (EHES) Contact information at EDIRC.
Bibliographic data for series maintained by Paul Sharp ().

 
Page updated 2024-07-01
Handle: RePEc:hes:wpaper:0079