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Economic crises in England, 1270-1520: a statistical approach

Casson, M. and Casson, C. (2015) Economic crises in England, 1270-1520: a statistical approach. In: Brown, A., Burn, A. and Docherty, R. (eds.) Crises in Economic and Social History: A Comparative Perspective. Boydell & Brewer, Woodbridge, pp. 79-110. ISBN 9781783270422

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Abstract/Summary

The chapter examines how far medieval economic crises can be identified by analysing the residuals from a simultaneous equation model of the medieval English economy. High inflation, falls in gross domestic product and large intermittent changes in wage rates are all considered as potential indicators of crisis. Potential causal factors include bad harvests, wars and political instability. The chapter suggests that crises arose when a combination of different problems overwhelmed the capacity of government to address them. It may therefore be a mistake to look for a single cause of any crisis. The coincidence of separate problems is a more plausible explanation of many crises.

Item Type:Book or Report Section
Refereed:Yes
Divisions:Faculty of Arts, Humanities and Social Science > School of Politics, Economics and International Relations > Economics
ID Code:40134
Publisher:Boydell & Brewer

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