this post was submitted on 21 May 2024
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Excellent questions. I look forward to reading your research paper on this subject.
A cross-sectional study would likely yield some short term answers, but the real work will require a longitudinal study to tease out trends in different regions and possibly even impacts from seasonality to take into account price fluctuations and determine volatility. This is well beyond my resources, but the grant application almost writes itself.
There may be parallels that could be learned from examining the price spike in the prison economy during April 2009.
"Prison Economy Spirals As Price Of Pack Of Cigarettes Surpasses Two Hand Jobs"
Price of money soars to $90 per dollar