Distance and time effects in Swedish commodity prices, 1732-1914

We study the role of distance and time in statistically explaining price dispersion across 32 Swedish towns for 19 commodities from 1732 to 1914. The resulting large number of relative prices (502,689) allows precise estimation of distance and time effects, and their interaction. We find an effect of distance that declines significantly over time, beginning in the 18th century, well before the arrival of canals, the telegraph, or the railway.

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Year of publication:	2016
Authors:	Crucini, Mario J. ; Smith, Gregor W.
Publisher:	Kingston (Ontario) : Queen's University, Department of Economics
Subject:	Rohstoffpreis \| Regionaler Preisindex \| Preiskonvergenz \| Geographische Entfernung \| Verkehrsgeschichte \| Schätzung \| Schweden \| distance effect \| law of one price

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Series:	Queen's Economics Department Working Paper ; 1357
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	849533716 [GVK] hdl:10419/149083 [Handle] RePEc:qed:wpaper:1357 [RePEc]
Classification:	N70 - Transport, International and Domestic Trade, Energy and Other Services. General, International, or Comparative ; f61 ; E37 - Forecasting and Simulation
Source:	EconStor

Persistent link: https://www.econbiz.de/10011583200