Economics at your fingertips  

Market Integration and Grain Price Stabilization in Europe 1500-1900. An Equilibrium Error Correction Approach

Mette Ejrnæs and Karl Gunnar Persson
Additional contact information
Karl Gunnar Persson: University of Copenhagen Institute of Economics

No 97-15, Discussion Papers from University of Copenhagen. Department of Economics

Abstract: Over the 400 years covered by this study European grain markets became increasingly integrated as measured by the speed of adjustment back to equilibrium after a shock. Market integration smoothened local supply shocks and therefore generated price stability which can be seen as having a positive welfare effect.

Keywords: market integration; equilibrium error correction; law of one price (search for similar items in EconPapers)
JEL-codes: N23 N73 (search for similar items in EconPapers)
Pages: 61 pages
Date: 1997-11
References: Add references at CitEc
Citations: Track citations by RSS feed

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

Access Statistics for this paper

More papers in Discussion Papers from University of Copenhagen. Department of Economics Oester Farimagsgade 5, Building 26, DK-1353 Copenhagen K., Denmark. Contact information at EDIRC.
Bibliographic data for series maintained by Thomas Hoffmann ().

Page updated 2021-06-17
Handle: RePEc:kud:kuiedp:9715