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The dear old holy Roman realm. How does it hold together? Monetary policies, cross-cutting cleavages and political cohesion in the age of reformation

Volckart, Oliver (2018) The dear old holy Roman realm. How does it hold together? Monetary policies, cross-cutting cleavages and political cohesion in the age of reformation. Economic History working papers (288). London School of Economics and Political Science, Economic History, London, UK.

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Abstract

Research has rejected Ranke’s hypothesis that the Reformation emasculated the Holy Roman Empire and thwarted the emergence of a German nation state for centuries. However, current explanations of the Empire’s cohesion that emphasise the effects of outside pressure or political rituals are not entirely satisfactory. This article contributes to a fuller explanation by examining a factor that so far has been overlooked: monetary policies. Monetary conditions within the Empire encouraged its members to cooperate with each other and the emperor. Moreover, cross-cutting cleavages – i.e. the fact that both Catholics and Protestants were split among themselves in monetary-policy questions – allowed actors on different sides of the confessional divide to find common ground. The paper analyses the extent to which cleavages affected the negotiations about the creation of a common currency between the 1520s and the 1550s, and whether monetary policies helped bridging the religious divide, thus increasing the Empire’s political cohesion.

Item Type: Monograph (Working Paper)
Official URL: http://www.lse.ac.uk/Economic-History
Additional Information: © 2018 The Author
Divisions: Economic History
Subjects: H Social Sciences > HC Economic History and Conditions
JEL classification: H - Public Economics > H1 - Structure and Scope of Government > H11 - Structure, Scope, and Performance of Government
H - Public Economics > H7 - State and Local Government; Intergovernmental Relations > H77 - Intergovernmental Relations; Federalism; Secession
N - Economic History > N1 - Macroeconomics and Monetary Economics; Growth and Fluctuations > N13 - Europe: Pre-1913
N - Economic History > N4 - Government, War, Law, and Regulation > N43 - Europe: Pre-1913
Sets: Departments > Economic History
Date Deposited: 25 Oct 2018 09:51
Last Modified: 30 Jan 2019 12:41
URI: http://eprints.lse.ac.uk/id/eprint/90503

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