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Household Debt in Early Modern Germany: Evidence from Personal Inventories

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  • OGILVIE, SHEILAGH
  • KÜPKER, MARKUS
  • MAEGRAITH, JANINE

Abstract

The “less-developed” interior of early modern Europe, especially the rural economy, is often regarded as financially comatose. This article investigates this view using a rich data set of marriage and death inventories for seventeenth-century Germany. It first analyzes the characteristics of debts, examining borrowing purposes, familial links, communal ties, and documentary instruments. It then explores how borrowing varied with gender, age, marital status, occupation, date, and asset portfolio. It finds that ordinary people, even in a “less-developed” economy in rural central Europe, sought to invest profitably, smooth consumption, bridge low liquidity, and hold savings in financial form.

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  • Ogilvie, Sheilagh & Küpker, Markus & Maegraith, Janine, 2012. "Household Debt in Early Modern Germany: Evidence from Personal Inventories," The Journal of Economic History, Cambridge University Press, vol. 72(1), pages 134-167, March.
    • Handle: RePEc:cup:jechis:v:72:y:2012:i:01:p:134-167_00
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    Cited by:

    1. Sharp, Paul & Boberg-Fazlic, Nina & Lampe, Markus & Martinelli Lasheras, Pablo, 2020. "Winners and Losers from Enclosure: Evidence from Danish Land Inequality 1682-1895," CEPR Discussion Papers 14616, C.E.P.R. Discussion Papers.
    2. Timothy W. Guinnane & Sheilagh C. Ogilvie, 2013. "A Two-Tiered Demographic System: "Insiders" and "Outsiders" in Three Swabian Communities, 1558-1914," Working Papers 1021, Economic Growth Center, Yale University.
    3. Ogilvie, Sheilagh & Edwards, Jeremy & Küpker, Markus, 2022. "Economically relevant human capital or multi-purpose consumption good? Book ownership in pre-modern Württemberg," Explorations in Economic History, Elsevier, vol. 83(C).
    4. van Bavel, Bas, 2016. "The Invisible Hand?: How Market Economies have Emerged and Declined Since AD 500," OUP Catalogue, Oxford University Press, number 9780199608133.
    5. Erik Bengtsson & Mats Olsson & Patrick Svensson, 2022. "Mercantilist inequality: wealth and poverty in Stockholm, 1650–1750†," Economic History Review, Economic History Society, vol. 75(1), pages 157-180, February.
    6. Oscar Gelderblom & Joost Jonker & Ruben Peeters & Amaury de Vicq, 2023. "Exploring modern bank penetration: Evidence from early twentieth‐century Netherlands," Economic History Review, Economic History Society, vol. 76(3), pages 892-916, August.
    7. Sheilagh Ogilvie, 2012. "Choices and Constraints in the Pre-Industrial Countryside," Working Papers 1, Department of Economic and Social History at the University of Cambridge, revised 01 Jan 2012.
    8. Le Bris, David, 2013. "Customary versus Civil Law within Old Regime France," MPRA Paper 52123, University Library of Munich, Germany.
    9. Tatsuki Inoue, 2019. "The role of pawnshops in risk coping in early twentieth-century Japan," Papers 1905.04419, arXiv.org, revised Aug 2019.
    10. Ogilvie, Sheilagh & Carus, A.W., 2014. "Institutions and Economic Growth in Historical Perspective," Handbook of Economic Growth, in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 2, chapter 8, pages 403-513, Elsevier.
    11. Erik, Bengtsson & Olsson, Mats & Svensson, Patrick, 2019. "Mercantilist Inequality: Wealth and Poverty in Stockholm 1650-1750," Lund Papers in Economic History 210, Lund University, Department of Economic History.

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