ABSTRACT OF PAPER
Title: Monetary Theory and Monetary Policy in Castile during the first half of the 17th Century
Author: DE LOZANNE JEFFERIES Claudia
During the 17th Century, Castile lived through an era of monetary instability. The period gave rise to a politico-literary genre of treatises (arbitrios) focussing on ways to recover monetary stability, which exhibit ethical-legal, moral, and economic critiques and solutions to the problem in varying degrees, providing great insight into how the perception of the vellón inflation developed throughout a period of about eight decades. The whole inflationary phenomenon can be divided into different episodes, according to the perception of the problems caused by debasement. This essay focuses on a selection of three treatises produced during the first half of the 17th- Century . The selection criteria for the three treatises was the degree in which they represent three characteristic episodes of the monetary crisis in 17-th Century Castile. Emphasis will be given to the ideas that emerged as a result of the observation of the monetary phenomena. Each treatise will therefore be placed within an economic historical context. The ways in which the environment influenced the development of monetary theory will be of particular interest.
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