Money and Prices in the Early Roman Empire
34 Pages Posted: 20 Apr 2005
Date Written: April 14, 2005
We examine monetization in the early Roman Empire by considering money as a unit of account. Widespread use of prices indicates widespread monetization. A consistent set of prices for wheat indicates that this monetization encouraged trade to grow across the Mediterranean. This argument is documented with a statistical test, preceded by a non-technical introduction and followed by consideration of a range of possible objections.
Keywords: money, monetization, international trade, regression analysis, early Roman Empire
JEL Classification: N13, F14, C10
Suggested Citation: Suggested Citation