dc.contributor.author | Klovland, Jan Tore | |
dc.date.accessioned | 2008-09-09T07:41:02Z | |
dc.date.available | 2008-09-09T07:41:02Z | |
dc.date.issued | 2007-12 | |
dc.identifier.issn | 0804-6824 | |
dc.identifier.uri | http://hdl.handle.net/11250/163122 | |
dc.description.abstract | This paper takes a critical look at the hypothesis that the Crimean War was the main cause
of the surge in ocean freight rates in the first part of the 1850s. The analysis is based on newly
constructed monthly data on world freight rates in the 1850s. A new type of freight rate index,
referred to as a repeat sailings index, is presented, which is similar to a type of index frequently
applied to house prices. An econometric model of the determination of freight rates is estimated
on monthly data from the 1850s, from which it is possible to disentangle the effects on freight rates
due to the various demand and supply factors, including the Crimean War. It is found that harvest
failures, business cycles, the supply of tonnage and the Crimean War all significantly affected freight
rates in this period. The Crimean War may have accounted for a quarter of the surge in freight
rates in the years prior to the outbreak of the War; once the War broke out in March 1854, however,
it was of less importance. | en |
dc.language.iso | eng | en |
dc.publisher | Norwegian School of Economics and Business Administration. Department of Economics | en |
dc.relation.ispartofseries | Discussion paper | en |
dc.relation.ispartofseries | 2007:42 | en |
dc.title | New evidence on the causes of the fluctuations in ocean freight rates in the 1850s : harvest failures, business cycles, and the Crimean War | en |
dc.type | Working paper | en |
dc.subject.nsi | VDP::Samfunnsvitenskap: 200::Økonomi: 210::Samfunnsøkonomi: 212 | en |