Banco de España has published a study about the Quantitative Theory of Money in Spain: 1883-1998 prepared by PhDs Carme Riera Prunera and Yolanda Blasco Martel.

The series of Estudios de Historia Económica del Banco de España (Economic History Studies of the Spanish Bank) has just published this December his last book (volume 72) named “La Teoría Cuantitativa del Dinero. La demanda de dinero en España: 1883-1998”. The aim of this series is to disseminate the Spanish Economic History focusing on the quantitative aspects. The study tests the hypothesis of the Quantitative Theory of Money from the extension of the single note in the Spanish Bank, at the end of 19thCentury, to the beginning of the full monetary integration with Europe, with the disappearance of the Spanish Peseta as the national currency. This would be the first study of the Theory that encompasses such a long period and the first time it is applied to Spain. The study is focused on the effects of the money on the economy and the level of control that the Central Bank has over the money and analyse the efficiency level when using the instruments that the monetary authority has within reach with the aim of stabilizing prices.

The investigation was set out on October 6that the Spanish Bank headquarters in Madrid during the 2ndSeminar in Economic History.