The Spanish Price Revolution featured a high money-price transmission phase until around 1600, after which transmission weakened substantially, as captured by a fitted two-phase MPTT model on CPI and money supply data.
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The Phase Structure of Metallic Money: An MPTT Framework for the Spanish Price Revolution
The Spanish Price Revolution featured a high money-price transmission phase until around 1600, after which transmission weakened substantially, as captured by a fitted two-phase MPTT model on CPI and money supply data.