Lives versus livelihoods in the middle ages: The impact of the plague on trade over 400 years

2023/12/21 by Jakob B. Madsen, Peter E. Robertson, Longfeng Ye · 1 voice
Biochemistry, Genetics and Molecular Biology · Economics, Econometrics and Finance · Social Sciences · #Yersinia bacterium, plague, ectoparasites research #Historical Economic and Social Studies #Culture, Economy, and Development Studies

paper · doi:10.1016/j.euroecorev.2023.104654

openalex publication_date 2023/12/21 · openalex created_date 2025/10/10 · openalex updated_date 2026/07/22

Abstract

To what extent did outbreaks of bubonic plague disrupt trade? We estimate the impact of epidemics on trade between regional wheat markets over four centuries – from the Black Death in the 14th century, until the medieval form of the plague became extinct in the 17th century. Using a gravity model, we find that outbreaks had a statistically significant, but relatively modest, impact on local variations in wheat prices. The results provide quantitative evidence on the extent to which epidemics disrupted markets and trade in pre-industrial Europe.

Citations

• Trade Costs

Discussions

• Lives versus livelihoods in the middle ages: The impact of the plague on trade over 400 years doi.org/10.1016/j.eu... [bsky, 1 points, 0 comments]

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