15世纪初巴塞罗那的外汇市场

IF 0.4 Q3 HISTORY OF SOCIAL SCIENCES

Financial History Review Pub Date : 2021-04-01 DOI:10.1017/S0968565021000032

Angela Orlandi, Giacomo Toscano

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引用次数: 1

摘要

本研究以15世纪初在巴塞罗那经营的一家商业银行公司的货币流动重建为基础，旨在了解当地货币相对于主要欧洲市场的汇率变化背后的原因，以及这种波动的模式和可预测性。通过使用真实汇率而不是“传闻”汇率，我们对汇率的季节性特征及其对货币充裕或短缺状况的敏感性进行了新的评估。此外，计量经济学分析表明，汇率波动相当温和，取决于地理和宏观经济因素，例如商业流动制度。

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The foreign exchange market in Barcelona at the beginning of the fifteenth century

Based on the reconstruction of the monetary flows of a merchant-banking company operating in Barcelona at the beginning of the fifteenth century, this study aims to understand the reasons behind exchange-rate variations in the local currency with respect to the principal European markets, as well as the modalities and predictability of such oscillations. By using real rather than ‘hearsay’ rates, we present new assessments of the seasonal character of exchange rates and their sensitivity to conditions of currency abundance or shortage. In addition, econometric analysis shows that exchange-rate volatility was quite modest and dependent on geographic and macroeconomic factors, such as the system of commercial flows.

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来源期刊

Financial History Review HISTORY OF SOCIAL SCIENCES-

CiteScore

1.00

自引率

0.00%

发文量

期刊介绍： Financial History Review is the international forum for all scholars with interests in the development of banking, finance, and monetary matters. Its editors deliberately seek to embrace the broadest approach to publishing research findings within this growing historical specialism. Articles address all aspects of financial and monetary history, including technical and theoretical approaches, those derived from cultural and social perspectives and the interrelations between politics and finance. These presentations of current research are complemented by somewhat shorter pieces, specifically conceived as aids to research. Each issue contains a substantial review section, and every complete volume contains an annual bibliography.