Publication:
Refinancing short-term debt with a fixed monthly interest rate into funded juros under Philip II: an asiento with the Maluenda brothers

dc.affiliation.dptoUC3M. Departamento de Ciencias Socialeses
dc.contributor.authorÁlvarez Nogal, Carlos
dc.contributor.authorChamley, Christophe
dc.contributor.funderMinisterio de Economía y Competitividad (España)es
dc.date.accessioned2022-06-17T15:50:13Z
dc.date.available2022-06-17T15:50:13Z
dc.date.issued2018-01-25
dc.description.abstractIn the fragmented geographical, fiscal, and financial state inherited by Philip II of Spain, while the public debt reached an unprecedented level (50-60 per cent of GDP), the critical refinancing of unfunded asientos into funded juros was operated by merchant-bankers who signed the asientos. This process is illustrated, using abundant archival documentation, by an asiento with the Maluenda brothers in 1595, which provided the Crown with steady monthly cash payments for a year with options to sell juros for two-thirds of the credit, and a monthly rate of 1 per cent on the interim balance. Other examples are provided.en
dc.description.sponsorshipMinistry of Economy and Competitiveness (Spain). Grant Numbers: Project ECO2012-38028, Project HAR2015-68672-Pen
dc.identifier.bibliographicCitationÁlvarez-Nogal, C., & Chamley, C. (2018). Refinancing short-term debt with a fixed monthly interest rate into fundedjurosunder Philip II: anasientowith the Maluenda brothers. The Economic History Review, 71 (4), pp. 1100-1117.es
dc.identifier.doihttps://doi.org/10.1111/ehr.12619
dc.identifier.issn0013-0117
dc.identifier.publicationfirstpage1100es
dc.identifier.publicationissue4es
dc.identifier.publicationlastpage1117es
dc.identifier.publicationtitleECONOMIC HISTORY REVIEWen
dc.identifier.publicationvolume71es
dc.identifier.urihttps://hdl.handle.net/10016/35173
dc.identifier.uxxiAR/0000022195
dc.language.isoenges
dc.publisherWileyes
dc.relation.projectIDGobierno de España. ECO2012-38028es
dc.relation.projectIDGobierno de España. HAR2015-68672-Pes
dc.rights© Economic History Society 2018en
dc.rights.accessRightsopen accessen
dc.subject.ecienciaPolíticaes
dc.subject.ecienciaSociologíaes
dc.subject.otherPhilip IIen
dc.subject.otherPublic debten
dc.subject.otherMerchantsen
dc.subject.otherBankersen
dc.subject.otherMaluenda brothersen
dc.titleRefinancing short-term debt with a fixed monthly interest rate into funded juros under Philip II: an asiento with the Maluenda brothersen
dc.typeresearch article*
dc.type.hasVersionAM*
dspace.entity.typePublication
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