The European Grain Invasion, 1870–1913
量化了19世纪末廉价谷物对欧洲经济的影响，发现运输成本下降缩小了英美谷物价差，但欧洲内部价格趋同不明显；廉价谷物降低了欧洲地租，但保护主义提高了地租，且各国影响不同。
The article quantifies the impact of cheap grain on the European economy in the late nineteenth century. Falling transport costs led to dramatic declines in Anglo-American grain price gaps, but price convergence was less impressive between the U.S. and other European economies, and within Europe. Cheaper grain meant lower rents throughout Europe, and protection boosted rents, but the magnitudes involved differed between countries. Similarly, cheap grain increased real wages in Britain, but lowered them elsewhere. The grain invasion implied different shocks across countries, and this partly explains the varying trade policies pursued in Europe during this period.