Distance And Time Effects In Swedish Commodity Prices, 1732-1914

Mario Crucini () and Gregor W. Smith ()

No 1357, Working Paper from Economics Department, Queen's University

Abstract: 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 distancethat declines significantly over time, beginning in the 18th century, well before the arrival of canals, the telegraph, or the railway.

Keywords: distance effect; law of one price (search for similar items in EconPapers)
JEL-codes: F61 N70 (search for similar items in EconPapers)
Pages: 25 pages
Date: 2016-03
New Economics Papers: this item is included in nep-agr, nep-his, nep-hpe and nep-tre
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https://www.econ.queensu.ca/sites/econ.queensu.ca/files/qed_wp_1357.pdf First version 2016 (application/pdf)

Related works:
Working Paper: Distance and Time Effects in Swedish Commodity Prices, 1732–1914 (2016)
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Persistent link: https://EconPapers.repec.org/RePEc:qed:wpaper:1357

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