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This paper attempts to quantify the development of the key monetary values and changes in monetary trust that occurred during Roman times under ever-increasing prices. To track those developments, the paper introduces a minimal-parameter model that builds on available numismatic data relating to the Roman landmark coinages and on papyrological findings. The modelling produces a series of graphs which clearly signal the occurrence of a later crisis of confidence. It is argued that the monetary measures typically taken by the Roman authorities actually fostered a crisis of confidence, and even made it inevitable.

Roman Economic History from Coins and Papyri: Monetary Value, Trust and Crisis