The Gains from Improved Market Efficiency: Trade Before and After the Transatlantic Telegraph

Keyphrases

• Market Efficiency 100%
• Law of One Price 100%
• Telegraph 100%
• Information Transmission 50%
• Law Violation 50%
• Commercial Press 25%
• Swift 25%
• Shock 25%
• Exporters 25%
• Information Regimes 25%
• Chicago 25%
• Speed of Adjustment 25%
• Grain Trade 25%
• Transport Costs 25%
• Liverpool 25%
• Long Distance 25%
• Price Equilibrium 25%
• Second Half of the 19th Century 25%

Economics, Econometrics and Finance

• Price Convergence 100%
• Efficient Market Hypothesis 100%
• Transport Cost 25%