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

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  • Drelichman, Mauricio
  • Gonzalez Agudo, David

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 9.5%.

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File URL: http://mauricio.econ.ubc.ca/pdfs/toledo.pdf
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Bibliographic Info

Paper provided by UBC Department of Economics in its series UBC Departmental Archives with number mauricio_drelichman-2012-15.

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Length: 45 pages
Date of creation: 09 Apr 2012
Date of revision: 21 May 2012
Handle: RePEc:ubc:bricol:mauricio_drelichman-2012-15

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Keywords: housing; rent indices; living standards; early modern period; Spain;

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  1. Horrell, Sara, 1996. "Home Demand and British Industrialization," The Journal of Economic History, Cambridge University Press, vol. 56(03), pages 561-604, September.
  2. Lvarez-Nogal, Carlos & Prados De La Escosura, Leandro, 2007. "The decline of Spain (1500 1850): conjectural estimates," European Review of Economic History, Cambridge University Press, vol. 11(03), pages 319-366, December.
  3. Glaeser, Edward L., 2008. "Cities, Agglomeration, and Spatial Equilibrium," OUP Catalogue, Oxford University Press, number 9780199290444, July.
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