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N. J. Mayhew - Population, Money Supply, and the Velocity of Circulation in England, 1300-1700 | JSTOR: The Economic History Review, New Series, Vol. 48, No. 2 (May, 1995), pp. 238-257
The importance of monetary and demographic factors in the later medieval and early modern 'price revolutions' has been much debated. This article analyses this long period in the terms of the Fisher Identity MV=PT, but also fully recognizes the importance of demographic change, and its impact on GDP. Tentative estimates of money supply and GDP are discussed, and from them velocity of circulation is deduced. Velocity has tended to fall over this period, but rising Tudor velocity is regarded as a symptom of economic distress. -- didn't download
article  jstor  economic_history  UK_economy  14thC  15thC  16thC  17thC  economic_growth  demography  population  prices  money_supply  money_velocity  money  commerce  dearth  EF-add 
january 2014 by dunnettreader

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