Money in Spain. New Historical Statistics. 1830-1998

68 Pages Posted: 21 Feb 2018

Date Written: February 19, 2018


The purpose of this Working Paper is to present a reconstruction of the main monetary aggregates for the period 1830, when the first modern banknotes were issue, to1998, the last year before the substitution of the peseta by the euro. It offers series for currency in circulation and its components, bank deposits and its components, high-powered money and the money supply. With regard to previous monetary historical statistics, this Working Paper improves the quality and the time-span of the series, covering a period of more than 150 years. The Working Paper offers also a short approach to the long-term evolution of the quantity of money in Spain and the changes in its composition. The sources and methodology employed is explain in detail.

Keywords: monetary statistics, monetary history, currency in circulation, bank deposits, money supply

JEL Classification: E49, E51, N1, N9, Y1

Suggested Citation

Martín-Aceña, Pablo, Money in Spain. New Historical Statistics. 1830-1998 (February 19, 2018). Banco de Espana Working Paper No. 1806, Available at SSRN: or

Pablo Martín-Aceña (Contact Author)

University of Alcala ( email )

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