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来源类型Working Paper
规范类型报告
DOI10.3386/w28627
来源IDWorking Paper 28627
Dry Bulk Shipping and the Evolution of Maritime Transport Costs, 1850-2020
David S. Jacks; Martin Stuermer
发表日期2021-03-29
出版年2021
语种英语
摘要We provide evidence on the dynamic effects of fuel price shocks, shipping demand shocks, and shipping supply shocks on real dry bulk freight rates in the long run. We first analyze a new dataset on dry bulk freight rates for the period from 1850 to 2020, finding that they followed a downward but undulating path with a cumulative decline of 79%. Next, we turn to understanding the drivers of booms and busts in the dry bulk shipping industry, finding that shipping demand shocks strongly dominate all others as drivers of real dry bulk freight rates in the long run. Furthermore, while shipping demand shocks have increased in importance over time, shipping supply shocks in particular have become less relevant.
主题Macroeconomics ; Business Cycles ; History ; Other History ; Regional and Urban Economics
URLhttps://www.nber.org/papers/w28627
来源智库National Bureau of Economic Research (United States)
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条目标识符http://119.78.100.153/handle/2XGU8XDN/586300
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David S. Jacks,Martin Stuermer. Dry Bulk Shipping and the Evolution of Maritime Transport Costs, 1850-2020. 2021.
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