IDEAS home Printed from https://ideas.repec.org/a/cup/jechis/v51y1991i01p149-175_03.html
   My bibliography  Save this article

The Economic Crisis of 1619 to 1623

Author

Listed:
  • Kindleberger, Charles P.

Abstract

Various states in the Holy Roman Empire prepared for the Thirty Years' War by creating new mints and debasing the subsidiary coinage. The process spread through Gresham's Law: bad money was taken by debasing states to their neighbors and exchanged for good. The neighbor typically defended itself by debasing its own coin. The resulting hyperinflation was terminated early in the war by an agreement to return to the Imperial Augsburg Ordinance of 1559. The Kipper- und Wipperzeit, as the period is called, illuminates the geographic spread of financial crises, German hypennflations of this century, and current proposals for “free banking.â€

Suggested Citation

  • Kindleberger, Charles P., 1991. "The Economic Crisis of 1619 to 1623," The Journal of Economic History, Cambridge University Press, vol. 51(1), pages 149-175, March.
    • Handle: RePEc:cup:jechis:v:51:y:1991:i:01:p:149-175_03
    as

    Download full text from publisher

    File URL: https://www.cambridge.org/core/product/identifier/S0022050700038407/type/journal_article
    File Function: link to article abstract page
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Karaman, K. Kıvanç & Pamuk, Şevket & Yıldırım-Karaman, Seçil, 2020. "Money and monetary stability in Europe, 1300–1914," Journal of Monetary Economics, Elsevier, vol. 115(C), pages 279-300.
    2. Uebele, Martin & Pfister, Ulrich & Riedel, Jana, 2012. "Real wages and the origins of modern economic growth in Germany, 16th to 19th centuries," VfS Annual Conference 2012 (Goettingen): New Approaches and Challenges for the Labor Market of the 21st Century 62076, Verein für Socialpolitik / German Economic Association.
    3. Goodhart, Charles & Masciandaro, Donato & Ugolini, Stefano, 2021. "Pandemic Recession, Helicopter Money and Central Banking: Venice, 1630," CEPR Discussion Papers 15715, C.E.P.R. Discussion Papers.
    4. Volckart, Oliver, 2021. "Trade in coinage, Gresham's Law, and the drive to monetary unification: the Holy Roman Empire, 1519-59," LSE Research Online Documents on Economics 109885, London School of Economics and Political Science, LSE Library.
    5. Jérôme Sgard, 2010. "Bankruptcy Law, Majority Rule, and Private Ordering in England and France (Seventeenth-Nineteenth Century)," Working Papers hal-01069444, HAL.
    6. Sgard, Jérôme, 2016. "Courts at work: Bankruptcy statutes, majority rule and private contracting in England (17th–18th century)," Journal of Comparative Economics, Elsevier, vol. 44(2), pages 450-460.
    7. Volckart, Oliver, 2021. "Trade in coinage, Gresham's Law, and the drive to monetary unification: the Holy Roman Empire, 1519-59," Economic History Working Papers 109885, London School of Economics and Political Science, Department of Economic History.
    8. Carlos Eduardo Suprinyak, 2009. "Merchants and councilors: intellectual divergences in early 17th century British economic thought," Textos para Discussão Cedeplar-UFMG td372, Cedeplar, Universidade Federal de Minas Gerais.
    9. Jérôme Sgard, 2010. "Bankruptcy Law, Majority Rule, and Private Ordering in England and France (Seventeenth-Nineteenth Century)," SciencePo Working papers Main hal-01069444, HAL.
    10. Masciandaro, Donato & Goodhart, Charles & Ugolini, Stefano, 2021. "Pandemic recession and helicopter money: Venice, 1629–1631," Financial History Review, Cambridge University Press, vol. 28(3), pages 300-318, December.
    11. Candelon, Bertrand & Metiu, Norbert, 2013. "A distribution-free test for outliers," Discussion Papers 02/2013, Deutsche Bundesbank.
    12. Carlos Eduardo Suprinyak, 2012. "Dreams of order and freedom : debating trade management early 17th century England," Textos para Discussão Cedeplar-UFMG 457, Cedeplar, Universidade Federal de Minas Gerais.
    13. Chilosi, David & Volckart, Oliver, 2010. "Good or bad money?: debasement, society and the state in the late Middle Ages," Economic History Working Papers 27946, London School of Economics and Political Science, Department of Economic History.
    14. Carlos Eduardo Suprinyak, 2011. "The role of experts in the public assessment of England´s trade crisis of the early 1620´s," Textos para Discussão Cedeplar-UFMG td421, Cedeplar, Universidade Federal de Minas Gerais.
    15. Sussman, Nathan & Zeira, Joseph, 2003. "Commodity money inflation: theory and evidence from France in 1350-1436," Journal of Monetary Economics, Elsevier, vol. 50(8), pages 1769-1793, November.
    16. José I. García de Paso, "undated". "The 1628 Castilian Crydown: Origins and Failure," Studies on the Spanish Economy 110, FEDEA.
    17. Gary B. Gorton, 2016. "The History and Economics of Safe Assets," NBER Working Papers 22210, National Bureau of Economic Research, Inc.
    18. Shyh-fang Ueng, 2005. "A theory of efficient coexistence," International Economic Journal, Taylor & Francis Journals, vol. 19(3), pages 397-416.
    19. Carlos Eduardo Suprinyak, 2009. "Interpreting a crisis: trade and money debates in England during the parliament of 1621," Textos para Discussão Cedeplar-UFMG td373, Cedeplar, Universidade Federal de Minas Gerais.
    20. Carlos Eduardo Suprinyak, 2011. "Trade, money, and the grievances of the commonwealth : economic debates in the English public sphere during the commercial crisis of the early 1620’s," Textos para Discussão Cedeplar-UFMG td427, Cedeplar, Universidade Federal de Minas Gerais.
    21. Suprinyak, Carlos Eduardo, 2017. "Journal of the History of Economic Thought Preprints - Dreams of Order and Freedom: Debating Trade Management in Early-17th Century England," SocArXiv 3yu8g, Center for Open Science.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cup:jechis:v:51:y:1991:i:01:p:149-175_03. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Kirk Stebbing (email available below). General contact details of provider: https://www.cambridge.org/jeh .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.