How markets perform during famines has long been a contentious issue. Recent research tends to associate famine with market segmentation and hoarding. The evidence of this paper, based on an analysis of the spatial and temporal patterns of price movements during four famines in preindustrial Europe, is that markets functioned ‘normally’ in times of crisis.
Type of Material
Working Paper
Publisher
University College Dublin, School of Economics
Series
UCD Centre for Economic Research Working Paper Series
