Analysis of Spanish regional wheat prices (1765-1855)

Bibliographic Data

ID6147938
AuthorsRafael Barquín (Universidad Nacional de Educación a Distancia, corresponding author)
Year2011
Volume26
Issue2
Pages77-104
Publication date2011-12-15
Open AccessNo
TypeARTICLE
VenueHistoire & Mesure (JOURNAL)
Journal identifiersISSN: 0982-1783 • E-ISSN: 1957-7745
PublisherOpenEdition (PUBLISHER)
DOI10.4000/histoiremesure.4236
OpenAlexW1607027318
LanguageEN
Citations received2
References cited10

One of the features of the wheat market in the eighteenth and nineteenth centuries was the existence of marked regional differences: wheat prices in coastal Spain were higher and less volatile than those of inland regions. The aim of this paper is to explain these differences. The analysis is based on the so-called homogeneity condition and Fogel's method for calculating the slope of the demand curve. According to the former, the sum of price elasticities, income and substitute goods must be equal to zero. Fogel's method makes it possible to estimate the elasticities of demand without contemporary data on prices and consumption. This study draws two main conclusions. First, wheat price elasticities in Spain are not markedly different from those across the rest of Europe. Nevertheless, the demand curve in inland regions is slightly more rigid than that of the rest of the country. Second, income elasticities grew slightly during the eighteenth and nineteenth centuries. This preference for wheat reveals an improvement in market conditions and the standard of living

Agricultural economics · Consumption (sociology · Demand curve · Econometrics · Economics · Homogeneity (statistics · Income elasticity of demand · Microeconomics · Normal good · Preference · Rest (music · Sociology · Statistics · Economics of Agriculture and Food Markets · Historical and socio-economic studies of Spain and related regions · Mathematics · Wine Industry and Tourism

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