Princely State-Making and the "Crisis of the Aristocracy" in Late Medieval Germany

Zmora, Hillay

doi:10.1093/past/153.1.37

Cited by 5 publications

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“…Guelten and other census contracts. But it is not a dominant form of capital raising, as more detailed breakdowns of regional and princely finances document (Droege 1966;Zmora 1996). 67 It is equally clear from the wide body of municipal evidence that Carolingian cities engaged in few ad hoc loan operations prior to the Thirty Years War, typically only resorted to during major emergencies.…”

Section: Weighing Municipal and Top-level Rates: Relative Importancementioning

confidence: 99%

Eight Centuries of Global Real Interest Rates, R-G, and the ‘Suprasecular’ Decline, 1311–2018

Schmelzing

2019

SSRN Journal

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With recourse to archival, printed primary, and secondary sources, this paper reconstructs global real interest rates on an annual basis going back to the 14th century, covering 78% of advanced economy GDP over time. I show that across successive monetary and fiscal regimes, and a variety of asset classes, real interest rates have not been 'stable', and that since the major monetary upheavals of the late middle ages, a trend decline between 0.6-1.6 basis points per annum has prevailed. A gradual increase in real negative-yielding rates in advanced economies over the same horizon is identified, despite important temporary reversals such as the 17th Century Crisis. Against their long-term context, currently depressed sovereign real rates are in fact converging 'back to historical trend'-a trend that makes narratives about a 'secular stagnation' environment entirely misleading, and suggests that-irrespective of particular monetary and fiscal responses-real rates could soon enter permanently negative territory. I also posit that the return data here reflects a substantial share of 'non-human wealth' over time: the resulting R-G series derived from this data show a downward trend over the same timeframe: suggestions about the 'virtual stability' of capital returns, and the policy implications advanced by Piketty (2014) are in consequence equally unsubstantiated by the historical record.

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Section: Weighing Municipal and Top-level Rates: Relative Importancementioning

confidence: 99%

Eight Centuries of Global Real Interest Rates, R-G, and the ‘Suprasecular’ Decline, 1311–2018

Schmelzing

2019

SSRN Journal

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Pledging Lordly Rights and “Squeezing” Local Communities in the Later Middle Ages

Lyon

2024

Austrian Hist Yearbk

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The fourteenth and fifteenth centuries were a period of rising expenses and mounting debt for Holy Roman emperors and other German lords. Rulers frequently sought to pay off these debts by pledging rights and properties to their creditors, who would then collect the income from those rights and properties over several years as a means of recuperating the money they were owed. However, this practice could generate tensions as well as cycles of conflict and negotiation at the local level, because pledge-holders often recovered their money by extracting as much income as possible from those communities impacted by the pledge. This article provides a general overview of the phenomenon of the pledging of lordly rights before turning to a case study, the pledging of the court at Hoym to the town of Quedlinburg in the mid-fifteenth century, to investigate more closely the local impact of the pledge.

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The Late Medieval "Crisis of the Nobility" Reconsidered: The Case of Flanders

Buylaert¹

2012

Journal of Social History

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Princely State-Making and the "Crisis of the Aristocracy" in Late Medieval Germany

Cited by 5 publications

References 0 publications

Eight Centuries of Global Real Interest Rates, R-G, and the ‘Suprasecular’ Decline, 1311–2018

Eight Centuries of Global Real Interest Rates, R-G, and the ‘Suprasecular’ Decline, 1311–2018

Pledging Lordly Rights and “Squeezing” Local Communities in the Later Middle Ages

The Late Medieval "Crisis of the Nobility" Reconsidered: The Case of Flanders

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