Modelling the Medieval Economy: Money, Prices and Income in England, 1263–1520

Abstract

This chapter presents a simple econometric model of the medieval English economy, focusing on the relationship between money, prices and incomes. The model is estimated using annual data for the period 1263–1520 obtained from various sources. The start date is determined by the availability of continuous runs of annual data, while the finishing date immediately precedes the take-off of Tudor price inflation. Accounts from the ecclesiastical and monastic estates have survived in great numbers for this period, thereby ensuring that crop yields can be estimated from a regionally representative set of estates.