Spending a windfall
| Autor(a) principal: | |
|---|---|
| Data de Publicação: | 2024 |
| Outros Autores: | |
| Tipo de documento: | Artigo |
| Idioma: | eng |
| Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
| Texto Completo: | http://hdl.handle.net/10362/163787 |
Resumo: | Publisher Copyright: © 2023 The Authors. International Economic Review published by Wiley Periodicals LLC on behalf of the Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association. |
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Spending a windfallEconomics and EconometricsPublisher Copyright: © 2023 The Authors. International Economic Review published by Wiley Periodicals LLC on behalf of the Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.We study the effect of the discovery of precious metals in America from 1500 to 1810 on international trade. Around 1500, there was a simultaneous discovery of precious metals and new trading routes. We construct a counterfactual of new routes but no precious metals. The discovery of precious metals increased the stock of precious metals more than 10-fold. We show that Euro-Asian trade at its peak increased up to 20 times compared with the counterfactual. Our simulations match the observed price dynamics. We find that precious metals were at least as important as the new routes.NOVA School of Business and Economics (NOVA SBE)RUNPalma, NunoSilva, André C.2024-02-19T23:05:54Z2024-022024-02-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10362/163787eng0020-6598PURE: 70039168https://doi.org/10.1111/iere.12662info:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2024-03-11T05:48:42Zoai:run.unl.pt:10362/163787Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T03:59:51.131865Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
| dc.title.none.fl_str_mv |
Spending a windfall |
| title |
Spending a windfall |
| spellingShingle |
Spending a windfall Palma, Nuno Economics and Econometrics |
| title_short |
Spending a windfall |
| title_full |
Spending a windfall |
| title_fullStr |
Spending a windfall |
| title_full_unstemmed |
Spending a windfall |
| title_sort |
Spending a windfall |
| author |
Palma, Nuno |
| author_facet |
Palma, Nuno Silva, André C. |
| author_role |
author |
| author2 |
Silva, André C. |
| author2_role |
author |
| dc.contributor.none.fl_str_mv |
NOVA School of Business and Economics (NOVA SBE) RUN |
| dc.contributor.author.fl_str_mv |
Palma, Nuno Silva, André C. |
| dc.subject.por.fl_str_mv |
Economics and Econometrics |
| topic |
Economics and Econometrics |
| description |
Publisher Copyright: © 2023 The Authors. International Economic Review published by Wiley Periodicals LLC on behalf of the Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association. |
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2024 |
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2024-02-19T23:05:54Z 2024-02 2024-02-01T00:00:00Z |
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info:eu-repo/semantics/publishedVersion |
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info:eu-repo/semantics/article |
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http://hdl.handle.net/10362/163787 |
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eng |
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eng |
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0020-6598 PURE: 70039168 https://doi.org/10.1111/iere.12662 |
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