benefitting from asymmetric information, were able to spend their new coins before their gains were eroded by inflation. This …

monetary in their motivations). Finally, this study also presents proof that the extent of inflation during the Great … Debasement (1542-1553) was less than that anticipated by monetary formulae, so that inflation did not nullify the merchants …

terms of both deflation and inflation --- long distance trade, overseas exploration and expansion (colonialism), and indeed … inflation of the Price Revolution (1520-1650) --- an inflation further fostered by a financial revolution in credit and banking … role of inflation, and associated macro-economic changes, in producing the roots of modern capitalist entrepreneurship …

, especially in England, to the consequences of population growth during this era: i.e., to a fall in the marginal productivity of … of an inflation, induced primarily by monetary forces, when nominal wages failed to keep pace with the rise in consumer … productivity of labour; in terms of the marginal revenue product of labour; and in terms of the Total Factor Productivity of the …

We study the effects of inflation in a competitive search model where each buyer's utility is private information, and … where money is essential in facilitating trade. The equilibrium is efficient at the Friedman rule, but inflation creates an … different types of buyers. As inflation rises, sellers post relatively flat price schedules which reduce the need for buyers to …

sustained inflation (c.1520 - c.1640) commonly known as the Price Revolution'; and in particular it provides an answer to the … economists and historians had attributed this sustained European inflation to the influx of Spanish-American treasure', chiefly … historians pointed out that European inflation had commenced as early as the 1520s, some three decades before any substantial …

) – presumably altered the land:labour ratio sufficiently to increase the marginal productivity of labour and thus its real wage … productivity of agricultural labour. But the evidence produced in this study demonstrates that the Black Death was followed, in … monetary forces in producing deflation in the second and final quarters of the fourteenth century, but severe inflation in …