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Política monetaria y política fiscal en Castilla en el siglo XVII: un siglo de inestabilidades

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  • de Villanueva, Cecilia Font

Abstract

The financial struggles that Castilla underwent during the second half of the 16th century forced the Crown to look for new ways of funding. The monetary changes encompassed the use of copper coins known as piezas de vellón. . Throughout the 17th century, there were 25 laws decreed altering in one way or the other the monetary value of the coins. These adjustments did not go unnoticed, having a direct impact on the monetary system creating instability and dramatic price fluctuations, on top of countless protests and rejections. The Government, conscious of the severity of the situatíon, made several attempts to resolve the imbalances, which only triumphed once the underlying fiscal problems disappeared. We see in this century co-ordination between monetary and fiscal policy in which monetary policy had to finance the deficit incurred by the fiscal authorities.

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  • de Villanueva, Cecilia Font, 2005. "Política monetaria y política fiscal en Castilla en el siglo XVII: un siglo de inestabilidades," Revista de Historia Económica / Journal of Iberian and Latin American Economic History, Cambridge University Press, vol. 23(S1), pages 329-347, March.
    • Handle: RePEc:cup:reveco:v:23:y:2005:i:s1:p:329-347_01
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    Cited by:

    1. Font de Villanueva, Cecilia, 2006. "Monetary reform in times of Charles II (1679-1686): aspects concerning the issued dispositions," IFCS - Working Papers in Economic History.WH wp06-07, Universidad Carlos III de Madrid. Instituto Figuerola.
    2. José Cendejas Bueno & Cecilia Font de Villanueva, 2015. "Convergence of inflation with a common cycle: estimating and modelling Spanish historical inflation from the 16th to the 18th centuries," Empirical Economics, Springer, vol. 48(4), pages 1643-1665, June.

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