Shipping in dire straits: New evidence on trends and cycles in coal freights from Britain, 1919-1939

Jan Tore Klovland ()
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Jan Tore Klovland: Dept. of Economics, Norwegian School of Economics and Business Administration, Postal: NHH , Department of Economics, Helleveien 30, N-5045 Bergen, Norway, http://www.nhh.no/en/research-faculty/department-of-economics/sam/cv/klovland--jan-tore.aspx

No 5/2016, Discussion Paper Series in Economics from Norwegian School of Economics, Department of Economics

Abstract: New monthly freight rate indices for 13 coal trade routes from Britain 1919-1939 are presented. The new indices form the basis of a review of the interwar freight markets and their relationship to the timing and severity of general business cycles. New time series of laid-up tonnage provide the background for this discussion. The Great Depression starting in the autumn of 1929 created a shipping cycle of unusual length and severity. Real freight rate indices used as a cross-check on productivity gains in shipping raise some doubt on previous estimates of productivity growth in British shipping in the interwar years.

Keywords: Freight markets; business cycles. (search for similar items in EconPapers)
JEL-codes: D24 N14 N74 (search for similar items in EconPapers)
Pages: 44 pages
Date: 2016-03-30
New Economics Papers: this item is included in nep-bec, nep-his, nep-int and nep-pke
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