ABSTRACT
Monetary relations in the Renaissance derived their specific character from the separation between the functions of money as unit of account and as means of payment. Each territorial area in Europe was characterized by a unit of account of its own, and it is in the relations between these units of account, that is, in exchange, that we have looked for the cause of the monetary movements of the period. This viewpoint is a departure from the traditional approach, which attaches more importance to the material content of money and thus emphasizes the influence of the production of precious metals.
