Risk Instruments in the Medieval and Early Modern Economy

Kohn, Meir

doi:10.2139/ssrn.151871

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Risk Instruments in the Medieval and Early Modern Economy

Dartmouth College, Department of Economics Working Paper No. 99-07

20 Pages Posted: 9 Mar 1999

See all articles by Meir Kohn

Meir Kohn

Dartmouth College - Department of Economics

Date Written: February 1999

Abstract

This paper describes the evolution of financial risk instruments in Europe before 1600. It discusses the evolution of marine insurance and its displacement of the sea loan, as well as early examples of forward transactions, options, and futures contracts. In contrast to business, households had only limited access to financial risk instruments--mainly in the form of life-contingent annuities.

JEL Classification: G2, G22, N23

Suggested Citation: Suggested Citation

Kohn, Meir G., Risk Instruments in the Medieval and Early Modern Economy (February 1999). Dartmouth College, Department of Economics Working Paper No. 99-07, Available at SSRN: https://ssrn.com/abstract=151871 or http://dx.doi.org/10.2139/ssrn.151871