| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w20247 |
| 来源ID | Working Paper 20247 |
| Geographic Barriers to Commodity Price Integration: Evidence from US Cities and Swedish Towns, 1732-1860 | |
| Mario J. Crucini; Gregor W. Smith | |
| 发表日期 | 2014-06-19 |
| 出版年 | 2014 |
| 语种 | 英语 |
| 摘要 | We study the role of distance and time in statistically explaining price dispersion for 14 commodities from 1732 to 1860. The prices are reported for US cities and Swedish market towns, so we can compare international and intranational dispersion. Distance and commodity-specific fixed effects explain a large share--roughly 60%--of the variability in a panel of more than 230,000 relative prices over these 128 years. There was a negative "ocean effect": international dispersion was less than would be predicted using distance, narrowing the effective ocean by more than 3000 km. The absolute effect of distance declined over time beginning in the 18th century. This process of convergence was broad- based, across commodities and locations (both national and international). But there was a major interruption in convergence in the late 18th and early 19th centuries, at the time of the Napoleonic Wars, stopping the process by two or three decades on average. |
| 主题 | International Economics ; Globalization and International Relations ; History ; Other History |
| URL | https://www.nber.org/papers/w20247 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/577920 |
| 推荐引用方式 GB/T 7714 | Mario J. Crucini,Gregor W. Smith. Geographic Barriers to Commodity Price Integration: Evidence from US Cities and Swedish Towns, 1732-1860. 2014. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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