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Testing for the Economic Impact of the U.S. Constitution: Purchasing Power Parity across the Colonies versus across the States, 1748-1811

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  • Farley Grubb

Abstract

The U.S. Constitution removed real and monetary trade barriers between the states. By contrast, these states when they were British colonies exercised considerable real and monetary autonomy over their borders. Purchasing power parity is used to measure how much economic integration between the states was gained in the decades after the Constitution’s adoption compared with what existed among the same locations during the late colonial period. The U.S. Constitution’s net contribution to the economic integration of the nation is found, using this method, to be not as large as is commonly supposed.

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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 13836.

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Date of creation: Mar 2008
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Publication status: published as Grubb, Farley, 2010. "Testing for the Economic Impact of the U.S. Constitution: Purchasing Power Parity Across the Colonies versus Across the States, 1748?1811," The Journal of Economic History, Cambridge University Press, vol. 70(01), pages 118-145, March.
Handle: RePEc:nbr:nberwo:13836

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Cited by:
  1. Farley Grubb, 2012. "Is Paper Money Just Paper Money? Experimentation and Local Variation in the Fiat Paper Monies Issued by the Colonial Governments of British North America, 1690-1775: Part I," NBER Working Papers 17997, National Bureau of Economic Research, Inc.

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