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Mining, market volatility and exchange rate management in early modern Mexico: Zacatecas and Guadalajara 1578-1669

Jefferies, C. (2016). Mining, market volatility and exchange rate management in early modern Mexico: Zacatecas and Guadalajara 1578-1669. In: Depeyrot, G. and Flynn, D. (Eds.), From underground to end-users: Global Monetary History in Scientific Context. (pp. 83-89). Belgium: Moneta. ISBN 9789491384622

Abstract

This paper describes statistical evidence supporting the theory that early modern frontier mining towns in Mexico had more unstable economies than central agricultural towns. Series of sales tax revenues are used as a proxy for economic activity in the towns of Zacatecas and Guadalajara during the period of 1578-1669. A description of the analysis of variance will be presented, and differences in volatility patterns will be highlighted. Further, volatility will be placed within the context of the rate of discount paid by miners to exchange bullion for coins.

Publication Type: Book Section
Subjects: H Social Sciences > HC Economic History and Conditions
Departments: School of Arts & Social Sciences > Economics
URI: http://openaccess.city.ac.uk/id/eprint/15431
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