Money and Prices in the Early Roman Empire
Massachusetts Institute of Technology (MIT) - Department of Economics; National Bureau of Economic Research (NBER)
April 14, 2005
MIT Department of Economics Working Paper No. 05-11
We examine monetization in the early Roman Empire by considering money as a unit of account. Widespread use of prices indicates widespread monetization. A consistent set of prices for wheat indicates that this monetization encouraged trade to grow across the Mediterranean. This argument is documented with a statistical test, preceded by a non-technical introduction and followed by consideration of a range of possible objections.
Number of Pages in PDF File: 34
Keywords: money, monetization, international trade, regression analysis, early Roman Empire
JEL Classification: N13, F14, C10
Date posted: April 20, 2005
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