Abstract

A new dataset of weekly wheat prices during the 1898–1914 is generated. Using variance decompositions from vector autoregressive models, a network of nine wheat markets during the sample period is constructed and information spillovers between these markets are analyzed. Our results indicate that trade costs are a significant determinant of the relative importance of information transmission in the continental European wheat trade.

中文翻译：

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19世纪末期商品市场中的网络和贸易成本：新的数据集和证据

摘要

生成了1898-1914年间每周小麦价格的新数据集。使用向量自回归模型的方差分解，在采样期间建立了九个小麦市场网络，并分析了这些市场之间的信息溢出。我们的结果表明，贸易成本是欧洲大陆小麦贸易中信息传输相对重要性的重要决定因素。