Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/149083
Authors: 
Crucini, Mario J.
Smith, Gregor W.
Year of Publication: 
2016
Series/Report no.: 
Queen's Economics Department Working Paper 1357
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 distance that declines significantly over time, beginning in the 18th century, well before the arrival of canals, the telegraph, or the railway.
Subjects: 
distance effect
law of one price
JEL: 
N70
F61
E37
Document Type: 
Working Paper

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