横财

IF 1.5 3区经济学 Q2 ECONOMICS

International Economic Review Pub Date : 2023-07-26 DOI:10.1111/iere.12662

Nuno Palma, André C. Silva

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引用次数: 0

摘要

我们研究了 1500 年至 1810 年贵金属在美洲的发现对国际贸易的影响。1500 年前后，贵金属和新贸易路线同时被发现。我们构建了一个没有贵金属但有新路线的反事实。贵金属的发现使贵金属存量增加了 10 倍以上。我们表明，与反事实相比，欧亚贸易在高峰期增加了 20 倍。我们的模拟结果与观察到的价格动态相吻合。我们发现，贵金属至少与新航线同等重要。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

SPENDING A WINDFALL

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SPENDING A WINDFALL

We study the effect of the discovery of precious metals in America from 1500 to 1810 on international trade. Around 1500, there was a simultaneous discovery of precious metals and new trading routes. We construct a counterfactual of new routes but no precious metals. The discovery of precious metals increased the stock of precious metals more than 10-fold. We show that Euro-Asian trade at its peak increased up to 20 times compared with the counterfactual. Our simulations match the observed price dynamics. We find that precious metals were at least as important as the new routes.

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来源期刊

International Economic Review ECONOMICS-

CiteScore

2.60

自引率

0.00%

发文量

期刊介绍： The International Economic Review was established in 1960 to provide a forum for modern quantitative economics. From its inception, the journal has tried to stimulate economic research around the world by publishing cutting edge papers in many areas of economics, including econometrics, economic theory, macro, and applied economics.