@YChen_ks @econfward This paper presents empirical evidence for the violation of nominal exchange regime neutrality. Authors find that fixing the exchange rate is associated with real output losses among countries with a high pre-peg inflation rate.

Estimating how money supply changes affect the economy based on silver fleet disasters in the Spanish Empire. In the September issue, by Adam Brzezinski (@AdamBrz), Yao Chen (@YChen_ks), Nuno Palma (@nunopgpalma), Felix Ward (@econfward)

𝗪𝗵𝗮𝘁 𝘁𝗵𝗲 𝗵𝗶𝘀𝘁𝗼𝗿𝘆 𝗼𝗳 𝗺𝗼𝗻𝗲𝘆 𝘁𝗲𝗹𝗹𝘀 𝘆𝗼𝘂 𝗮𝗯𝗼𝘂𝘁 𝗰𝗿𝘆𝗽𝘁𝗼’𝘀 𝗳𝘂𝘁𝘂𝗿𝗲: The thread from shipwrecks and sheep flocks to digital currencies. This week's @TheEconomist covers recent work by @AdamBrz, @YChen_ks, @VeldeFrancois, @econfward, & myself👇

⭐ VoxTalks Economics NEW EPISODE ⭐ How much of western Europe’s economic transformation was made possible by gold & silver looted from the Americas? New research upends conventional wisdom, Yao Chen @erasmusuni tells @timsvengali @cepr_org. Subscribe: https://t.co/cJGj6Gg9FT

New CEPR Discussion Paper - DP17919 Goldilocks: American precious metals and the Rise of the West @YChen_ks @ErasmusESE @ResearchTI, @nunopgpalma @ManUniEconomics @icsunivlisboa, @econfward @ErasmusESE @ResearchTI https://t.co/8SzpShJuBp

New CEPR Discussion Paper - DP17902 Output Divergence in Fixed Exchange Rate Regimes: Is the Euro Area Growing Apart? @YChen_ks @ErasmusESE @ResearchTI, @econfward @ErasmusESE @ResearchTI https://t.co/OTXUyEI1st #CEPR_IMF, #CEPR_MEF

Estimating how money supply changes affect the economy based on silver fleet disasters in the Spanish Empire. Just accepted, "The Vagaries of the Sea" by Adam Brzezinski (@AdamBrz), Yao Chen (@YChen_ks), Nuno Palma (@nunopgpalma), Felix Ward (@econfward)

𝗚𝗼𝗹𝗱𝗶𝗹𝗼𝗰𝗸𝘀: 𝗔𝗺𝗲𝗿𝗶𝗰𝗮𝗻 𝗽𝗿𝗲𝗰𝗶𝗼𝘂𝘀 𝗺𝗲𝘁𝗮𝗹𝘀 𝗮𝗻𝗱 𝘁𝗵𝗲 𝗥𝗶𝘀𝗲 𝗼𝗳 𝘁𝗵𝗲 𝗪𝗲𝘀𝘁 new WP, joint w/ @YChen_ks and @econfward. We estimate the contribution of American precious metals to West Europe’s growth performance in the early modern period 👇

Dissemination post in Spanish, "Reconstrucción de la masa monetaria española, 1492-1810", in the blog "nada es gratis" about a recent paper published in Explorations in Economic History by @YChen_ks, @econfward and myself. Thanks to @FJBeltranTapia for the invitation.

New inroads for the quantitative study of early modern monetary history: "Reconstruction of the Spanish money supply, 1492-1810" synthesizes data on precious metal mining and their international flow to estimate Spain's early modern money stock. With @YChen_ks and @nunopgpalma.

What is the real effect of money? @adambrz, @YChen_ks @econward and I we use a natural experiment: Maritime disasters in the Spanish Empire (1531-1810). A one p.p. reduction in money growth caused a 1.3% drop in real output that persisted for several years https://t.co/vvxuXe7wEB