The Law of One Price Over 700 Years

The Law of One Price Over 700 Years
This paper examines annual commodity price data from England and Holland over a span of seven centuries. Our data incorporates transaction prices on seven commodities: barley, butter, cheese, oats, peas, silver, and wheat, as well as pound/shilling nominal exchange rates going back, in some cases, to 1273. We find that the magnitude, volatility,... READ MORE...

Publication date: November 2001
ISBN 9781451858693
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