Industrialización, desarrollo financiero y oferta monetaria en Barcelona a mediados del siglo XIX
The article deals with the need, inherent in any process of industrialization, to increase money supply in order to avoid deflationary tensions. We examine the case of a major financial and commercial centre: Barcelona in the mid-nineteenth century. The paper specifies the volume of different types of fiat money in circulation (bank notes, “validated” cheques, internal pay orders, short-term bonds…) and their characteristics as means of payment. The aim of the study is to show that, in a context of “free banking” without legal tender of the paper money, there was an automatic process towards a balance between supply and demand for money and that any possible oversupply was eliminated through a “crowding out” effect. In such systems, money-supply growth seems have not significant effects on prices, but instead, sudden contractions of money supply did have intense upward impacts on interest rate. KEY Classification-JEL: E41, E42, N13, N23
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 4 (2008)
Issue (Month): 03 ()
|Contact details of provider:|| Web page: http://www.aehe.net|
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:ahe:invest:v:04:y:2008:i:03:p:45-77. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (José Antonio Miranda)
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.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with 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 profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.