Földvári, Péter; van Leeuwen, Bas; Zanden, Jan Luiten Van - C.E.P.R. Discussion Papers - 2011
Price volatility, reflecting the ability to absorb exogenous supply- or demand shocks, is an important dimension of market performance. In this paper we present a model to study the factors determining the price volatility of markets of basic foodstuffs in pre industrial societies. This model is...