Trade and Development Workshop: “Information Frictions and the Law of One Price: When the States and the Kingdom became United”

Claudia Steinwender

 IES Fellow at the International Economics Section at Princeton University

Tuesday, April 21, 2015

12:30 to 2:00pm

 

Monroe Hall of Government
2115 G Street NW, Room 321
Washington, DC 20052

With the establishment of the transatlantic telegraph, information sharing in relation to international trade experienced dramatic changes and heavily impacted global markets. Looking at historical data, we can see how exporters began to respond to information about demand.

During next week’s Trade and Development Workshop, Claudia Steinwender will present her paper, Information Frictions and the Law of One Price: “When the States and the Kingdom became United”, which examines the extent to which information friction affects international trade distortion. Dr. Steinwender will explain how she built a model of international trade that is consistent with empirical evidence in which exporters use the latest news about a foreign market to forecast expected selling prices when their exports arrive.

Claudia Steinwender is an IES Fellow at the International Economics Section at Princeton University and completed her PhD in Economics at the London School of Economics. This summer, July 2015, she will be joining the Harvard Business School as an assistant professor.

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