A major question in the literature on the classical gold standard concerns the efficiency of international arbitrage … and interest arbitrage. These studies have suffered from many limitations, both methodological and empirical. We offer a … new methodology for measuring market integration, based on a theoretical model of arbitrage applicable to any type of …

A major question in the literature on the classical gold standard concerns the efficiency of international arbitrage … tests of various asset market criteria, including speculative efficiency and interest arbitrage. These studies have suffered …

A major question in the literature on the classical gold standard concerns the efficiency of international arbitrage … tests of various asset market criteria, including speculative efficiency and interest arbitrage. These studies have suffered …

A major question in the literature on the classical gold standard concerns the efficiency of international arbitrage … and interest arbitrage. These studies have suffered from many limitations, both methodological and empirical. We offer a … new methodology for measuring market integration, based on a theoretical model of arbitrage applicable to any type of …

economic activity, especially international trade. Yet nothing is known empirically about these effects in large samples. We … study the effects of war on bilateral trade for almost all countries with available data extending back to 1870. Using the … gravity model, we estimate the contemporaneous and lagged effects of wars on the trade of belligerent nations and neutrals …