publication . Article . 2016

EXCHANGE AND INTEREST RATES IN MEDIEVAL EUROPE

Tony Moore;
  • Published: 04 Aug 2016
  • Country: United Kingdom
Abstract
A major gap in our understanding of the medieval economy concerns interest rates, especially relating to commercial credit. Although direct evidence about interest rates is scattered and anecdotal, there is much more surviving information about exchange rates. Since both contemporaries and historians have suggested that exchange and rechange transactions could be used to disguise the charging of interest in order to circumvent the usury prohibition, it should be possible to back out implied interest rates from exchange rates. The analysis presented in this article is based on a new dataset of medieval exchange rates collected from commercial correspondence in th...
Subjects
free text keywords: Economics and Econometrics, History, Database transaction, Loan, Time value of money, Market exchange, Interest rate, media_common.quotation_subject, media_common, Foreign exchange, Interest rate parity, Usury, Economics, Economy
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