Reconstruction of the Spanish money supply, 1492–1810
本文整合了贵金属开采和国际流动数据，估算了1492至1810年西班牙的货币供给，发现其增长了十倍以上，并指出这可以解释近代早期西班牙大部分的价格上涨。
How did the Spanish money supply evolve in the aftermath of the discovery of large amounts of precious metals in Spanish America? We synthesize the available data on the mining of precious metals and their international flow to estimate the money supply for Spain from 1492 to 1810. Our estimate suggests that the Spanish money supply increased more than ten-fold. Viewed through the equation of exchange this money supply increase can account for most of the price level rise in early modern Spain.