A Methodological approach to estimating the Money Demand in Pre-Industrial Economies: Probate Inventories and Spain in the 18th century
AbstractThe study of monetary phenomena and the understanding of price determination in Modern Europe are too often limited by the scarcity of good-quality data sets on the evolution across time of variables like money holdings, income, or wealth. In this paper we show that the information contained in probate inventories can be extremely useful to circumvent that problem. In particular, combining a data set of 114 inventories from Palencia (North of Spain) between 1750 and 1770 with census information (Catastro de Ensenada) we make a cross-section estimation of a money demand which is the first one ever produced for any period before the 19th century. The results provide meaningful insights about the relation between money demand and wealth, urbanization and structural change in a pre-industrial economy and highlight the potential of probate inventories to improve our knowledge of the monetary history of Modern Europe.
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Bibliographic InfoPaper provided by Universidad Carlos III, Departamento de Historia Económica e Instituciones in its series Working Papers in Economic History with number wh061902.
Date of creation: Mar 2006
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Other versions of this item:
- Nicolini, Esteban A. & Ramos, Fernando, . "A methodological approach to estimating the money demand in pre-industrial economies: probate inventories and Spain in the 18th century," Open Access publications from Universidad Carlos III de Madrid info:hdl:10016/421, Universidad Carlos III de Madrid.
- NEP-ALL-2006-05-06 (All new papers)
- NEP-CBA-2006-05-06 (Central Banking)
- NEP-MAC-2006-05-06 (Macroeconomics)
- NEP-MON-2006-05-06 (Monetary Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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