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First Cabin Fares from New York to the British Isles, 1826–1914

In: Research in Economic History

Author

Listed:
  • Brandon Dupont
  • Drew Keeling
  • Thomas Weiss

Abstract

Abstract We present a continuous time series on first cabin passenger fares for ocean travel from New York to the British Isles covering nearly a century of time. We discuss the conceptual and empirical difficulties of constructing such a time series, and examine the reasons for differences between the behavior of advertised fares and those based on passenger revenues. We find that while there are conceptual differences between these two measurements, as well as differences in the average values, the two generally moved in parallel, which means that the advertised fare series can serve as a reasonable proxy for movement of the revenue-based fares. We also find that advertised fares declined over time, roughly paralleling the drop in freight rates for US bulk exports, until around 1890, but thereafter increased while freight rates continued to decline. We propose several hypotheses for this divergent behavior and suggest lines of future research.

Suggested Citation

  • Brandon Dupont & Drew Keeling & Thomas Weiss, 2017. "First Cabin Fares from New York to the British Isles, 1826–1914," Research in Economic History,in: Research in Economic History, volume 33, pages 19-63 Emerald Publishing Ltd.
  • Handle: RePEc:eme:rehizz:s0363-326820170000033002
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    References listed on IDEAS

    as
    1. Brandon Dupont & Thomas Weiss, 2013. "Variability in overseas travel by Americans, 1820–2000," Cliometrica, Journal of Historical Economics and Econometric History, Association Française de Cliométrie (AFC), vol. 7(3), pages 319-339, September.
    2. Brandon Dupont & Alka Gandhi & Thomas Weiss, 2012. "The long‐term rise in overseas travel by Americans, 1820–2000," Economic History Review, Economic History Society, vol. 65(1), pages 144-167, February.
    3. Harley, C. Knick, 1988. "Ocean Freight Rates and Productivity, 1740–1913: The Primacy of Mechanical Invention Reaffirmed," The Journal of Economic History, Cambridge University Press, vol. 48(04), pages 851-876, December.
    4. Gerald S. Graham, 1956. "The Ascendancy Of The Sailing Ship 1850-85," Economic History Review, Economic History Society, vol. 9(1), pages 74-88, August.
    5. David S Jacks & Krishna Pendakur, 2010. "Global Trade and the Maritime Transport Revolution," The Review of Economics and Statistics, MIT Press, vol. 92(4), pages 745-755, November.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Overseas travel; transportation; tourism; migration; ocean fares; N0; N7;

    JEL classification:

    • N10 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - General, International, or Comparative
    • N11 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - U.S.; Canada: Pre-1913
    • N7 - Economic History - - Economic History: Transport, International and Domestic Trade, Energy, and Other Services
    • N71 - Economic History - - Economic History: Transport, International and Domestic Trade, Energy, and Other Services - - - U.S.; Canada: Pre-1913
    • R41 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Transportation: Demand, Supply, and Congestion; Travel Time; Safety and Accidents; Transportation Noise

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