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Debasements, Royal Revenues, and Inflation in France During the Hundred Years' War, 1415–1422

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  • Sussman, Nathan

Abstract

Historians of the period have generally played down the debasement of France's coinage to increase crown revenues during the Hundred Years' War or treated it as a last resort and an inept one. Based on archival data and an analytical framework drawn from the modern literature on inflation tax, this article supports challengers of that view, showing that debasement was an effective instrument of public finance.

Suggested Citation

  • Sussman, Nathan, 1993. "Debasements, Royal Revenues, and Inflation in France During the Hundred Years' War, 1415–1422," The Journal of Economic History, Cambridge University Press, vol. 53(1), pages 44-70, March.
    • Handle: RePEc:cup:jechis:v:53:y:1993:i:01:p:44-70_01
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    Cited by:

    1. John H. Munro, 2009. "Coinage and Monetary Policies in Burgundian Flanders during the late-medieval 'Bullion Famines',. 1384 - 1482," Working Papers tecipa-361, University of Toronto, Department of Economics.
    2. Ling-Fan Li, 2015. "Information asymmetry and the speed of adjustment: debasements in the mid-sixteenth century," Economic History Review, Economic History Society, vol. 68(4), pages 1203-1225, November.
    3. Young Sik Kim & Manjong Lee, 2013. "Separation of Unit of Account from Medium of Exchange," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 45(8), pages 1685-1703, December.
    4. Motomura, Akira, 1997. "New Data on Minting, Seigniorage, and the Money Supply in Spain (Castile), 1597-1643," Explorations in Economic History, Elsevier, vol. 34(3), pages 331-367, July.
    5. Svensson, Roger, 2014. "Re-Coinage in Medieval Sweden," Working Paper Series 1040, Research Institute of Industrial Economics.
    6. Sussman, Nathan & Zeira, Joseph, 2003. "Commodity money inflation: theory and evidence from France in 1350-1436," Journal of Monetary Economics, Elsevier, vol. 50(8), pages 1769-1793, November.
    7. Gerald P. Dwyer Jr. & James R. Lothian, 2003. "The Economics of International Monies," International Finance 0311010, University Library of Munich, Germany.
    8. Svensson, Roger, 2013. "The Bracteate as Economic Idea and Monetary Instrument," Working Paper Series 973, Research Institute of Industrial Economics.
    9. Svensson, Roger, 2013. "Re-Coinage as a Monetary Tax: Conditions, Consequences and Comparisons with Debasement," Working Paper Series 950, Research Institute of Industrial Economics.
    10. Claudio Borio, 2019. "On money, debt, trust and central banking," BIS Working Papers 763, Bank for International Settlements.
    11. Volckart, Oliver, 2007. "Rules, discretion or reputation? Monetary policies and the efficiency of financial markets in Germany, 14th to 16th centuries," SFB 649 Discussion Papers 2007-007, Humboldt University Berlin, Collaborative Research Center 649: Economic Risk.
    12. Volckart, Oliver, 2017. "Premodern debasement: a messy affair," Economic History Working Papers 86533, London School of Economics and Political Science, Department of Economic History.
    13. Dr. Robert Oleschak, 2021. "Financial inclusion, technology and their impacts on monetary and fiscal policy: theory and evidence," Working Papers 2021-04, Swiss National Bank.
    14. repec:cte:whrepe:wh030905 is not listed on IDEAS

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