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Solar Physics

, Volume 224, Issue 1–2, pp 473–481 | Cite as

Space Climate Manifestation in Earth Prices – from Medieval England up to Modern U.S.A.

  • L. A. Pustilnik
  • G. Yom Din
Article

Abstract

In this study we continue to search for possible manifestations of space weather influence on prices of agricultural products and consumables. We note that the connection between solar activity and prices is based on the causal chain that includes several nonlinear transition elements. These nonlinear elements are characterized by threshold sensitivity to external parameters and lead to very inhomogeneous local sensitivity of the price to space weather conditions. It is noted that “soft type” models are the most adequate for description of this class of connections. Two main observational effects suitable for testing causal connections of this type of sensitivity are considered: burst-like price reactions on changes in solar activity and price asymmetry for selected phases of the sunspot cycle. The connection, discovered earlier for wheat prices of Medieval England, is examined in this work on the basis of another 700-year data set of consumable prices in England. Using the same technique as in the previous part of our work (Pustilnik and Yom Din, 2004) we show that statistical parameters of the interval distributions for price bursts of consumable basket and for sunspot minimum states are similar to one another, as was reported earlier for wheat price bursts. Possible sources of these consistencies between three different multiyear samples are discussed. For a search of possible manifestations of the ‘space weather -wheat market’ connection in modern time, we analyze dynamics of wheat prices in the U.S.A. in the twentieth century. We show that the wheat prices revealed a maximum/minimum price asymmetry consistent with the phases of the sunspot cycle. We discuss possible explanations of this observed asymmetry, unexpected under conditions of globalization of the modern wheat market.

Keywords

Solar Activity Space Weather Sunspot Cycle Nonlinear Element Price Reaction 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer Science + Business Media, Inc. 2004

Authors and Affiliations

  1. 1.Israel Cosmic Ray CenterTel Aviv University and Israel Space AgencyKatzrinIsrael
  2. 2.Sea of Galilee Astrophysical ObservatoryJordan Valley CollegeIsrael
  3. 3.Golan Research InstituteKatzrinIsrael

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