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Commercial Revolutions, Search, and Development

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  • Maurizio Iacopetta

    (OFCE/Sciences Po and SKEMA Business School)

Abstract

A society can reap more benefits generated by an improvement in communication and transportation when the gap between privileged and less-privileged individuals is small. This hypothesis is investigated in a Kiyotaki-Wright search environment where people enjoy different rental positions. Historical evidence about the rise of Italian seaport cities during the Middle Ages, of the Netherlands in the 17th century, and about the French nobility's resistance to trade during the pre-revolutionary period is used to support the hypothesis.

Suggested Citation

  • Maurizio Iacopetta, 2016. "Commercial Revolutions, Search, and Development," 2016 Meeting Papers 1394, Society for Economic Dynamics.
    • Handle: RePEc:red:sed016:1394
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    References listed on IDEAS

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