This article shows how public offices in the early modern period became investment assets in Castile (Spain). Moreover, it demonstrates that offices fulfilled all the conditions for being viewed as safe assets. In particular, through the combination of qualitative sources with a novel hand-collected database, it shows that offices did not suffer from adverse selection, were traded in liquid secondary markets, and increased their value during periods of economic distress. This research is a pioneer in revealing the existence in early modern times of a haven asset, other than coins and public debt, and showing at the same time the private financial uses of offices.

中文翻译：

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现代早期卡斯蒂利亚的安全资产，1543 年至 1714 年

本文展示了近代早期的公共办公室如何成为卡斯蒂利亚（西班牙）的投资资产。此外，它还表明办公室满足被视为安全资产的所有条件。特别是，通过将定性来源与新颖的手工收集数据库相结合，它表明办事处没有遭受逆向选择，在流动性二级市场上进行交易，并在经济困难时期增加了其价值。这项研究开创了揭示近代早期除了硬币和公共债务之外还存在避险资产的先河，同时也揭示了办公室的私人金融用途。