Handbook of World Exchange Rates, 1590–1914

Denzel, Markus A.

doi:10.4324/9781315253664

Cited by 34 publications

(32 citation statements)

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“…I derive proxies for the national prices of the other countries by using historical exchange rates from Bordo (2001), Officer (2006Officer ( , 2011, Denzel (2010), and others. I compute real prices for each country by using producer price indices from Mitchell (2003aMitchell ( ,b, 1998, and other sources.…”

Section: A New Data Setmentioning

confidence: 99%

Industrialization and the demand for mineral commodities

Stuermer

2017

Journal of International Money and Finance

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in Bonn Graduate School of Economics (BGSE)is gratefully acknowledged.Deutsche Post World Net is a sponsor of the BGSE. Industrialization and the demand for mineral commoditiesMartin Stuermer * November 15th, 2013Abstract What drives the long-term demand for mineral commodities? This paper provides empirical evidence on the long-run demand for mineral commodities since 1840. I extend the partial adjustment model to account for country-specific structures and technological change. I find that a one percent increase in manufacturing output leads to a 1.5 percent increase in the demand for aluminum and a one percent increase in the demand for copper. The estimated manufacturing output elasticities of demand for lead, tin, and zinc are far below one. The estimated price elasticities of demand are highly inelastic for all mineral commodities in the long run. My results suggest that industrialization in China, for example, will cause the consumption of aluminum and copper to increase at a considerably higher rate than the one of lead, tin, and zinc. All variables adjust slowly to equilibrium, which helps to explain the extended fluctuation in these markets.JEL classification: O13, Q31, N50

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Section: A New Data Setmentioning

confidence: 99%

Industrialization and the demand for mineral commodities

Stuermer

2017

Journal of International Money and Finance

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“…Next, the beneficiary often transferred the bill to a fourth party, the holder , as a means of payment. The holder then waited until maturity, when the drawee would settle the bill in the second location's unit of account (Denzel , pp. xxiv–xlvi).…”

Section: Shadow Banking In 1763mentioning

confidence: 99%

Responding to a Shadow Banking Crisis: The Lessons of 1763

Quinn¹,

Roberds²

2015

J of Money Credit Banking

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“…This is a conservative exchange rate, as McCusker, Money and exchange , pp. 99, 101–6, and Denzel, Handbook of world exchange rates , p. 30, give a London–Madrid rate fluctuating around £1 = 4.5 pesos for 1680–1725. Throughout the Mediterranean in the mid‐seventeenth century, the rate was between £1 = 5 pesos and £1 = 4 pesos : see Blakemore, ‘Descriptive report’, pp.…”

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Pieces of eight, pieces of eight: seamen's earnings and the venture economy of early modern seafaring†

Blakemore

2017

The Economic History Review

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Historians have generally argued that between the medieval period and the eighteenth century seafarers transformed from collaborative adventurers with a share in their vessel to the first international wage‐earning proletariat. This interpretation has drawn upon relatively limited statistical analysis of mariners’ wages, and underestimates the variety of seafarers’ remuneration and economic activities besides wages themselves. This article undertakes a more sustained analysis of seventeenth‐century wage data drawn from the papers of the English High Court of Admiralty, and uses the same evidence to examine other forms of income, both customary payments as part of shipping, and small‐scale trade. Seafarers of all ranks carried their own commodities on all shipping routes, offering an opportunity to increase their income considerably. This evidence confirms that the maritime labour market was hierarchical, and that very often seafarers were poor labourers facing economic insecurity of many kinds. However, it refines the previous interpretation by emphasizing the presence of skilled workers even among the lower levels of this labour market, and by introducing a new dimension to mariners’ economic agency: they were not simply wage‐workers, but also independent participants in a venture economy.

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Handbook of World Exchange Rates, 1590–1914

Cited by 34 publications

References 0 publications

Industrialization and the demand for mineral commodities

Industrialization and the demand for mineral commodities

Responding to a Shadow Banking Crisis: The Lessons of 1763

Pieces of eight, pieces of eight: seamen's earnings and the venture economy of early modern seafaring†

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