| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP16523 |
| DP16523 Spending a Windfall | |
| Nuno Palma; André Silva | |
| 发表日期 | 2022-03-02 |
| 出版年 | 2022 |
| 语种 | 英语 |
| 摘要 | We study the effect of the discovery of precious metals in America on international trade from 1500 to 1810. Around 1500, there was a simultaneous discovery of precious metals and new trading routes. We construct a counterfactual scenario of new routes but no precious metals. The discovery of precious metals was a windfall to Europe. It increased the stock of precious metals in the world more than tenfold. Compared with the case of no trade routes and no precious metals, Euro-Asian trade increases up to 20 times. We find that American precious metals were at least as important as the new trading routes as a cause of observed trade patterns. |
| 主题 | Economic History ; International Trade and Regional Economics ; Macroeconomics and Growth ; Monetary Economics and Fluctuations |
| 关键词 | Monetary injections International trade Early modern trade Euro-asian trade Real effects of money |
| URL | https://cepr.org/publications/dp16523-0 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/546044 |
| 推荐引用方式 GB/T 7714 | Nuno Palma,André Silva. DP16523 Spending a Windfall. 2022. |
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