This paper uses annual data to study the interaction of consumer and commodity prices in 15 economies over the period 1850-1913. We find that consumer price inflation in all 15 countries co-moves with a broad measure of changes in commodity prices. Consumer prices comove most strongly with...

This paper responds to 3 discussion questions asked of participants in the Research Conference.1) How do you define "money," and how does that definition inform your work?2) Does your definition lead you to prioritize certain institutions as objects of study? Why? How does your institutional...