| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP2195 |
| DP2195 The Equilibrium Degree of Transparency and Control in Monetary Policy | |
| Lars E.O. Svensson; Jon Faust | |
| 发表日期 | 1999-08-03 |
| 出版年 | 1999 |
| 语种 | 英语 |
| 摘要 | We use retail transaction prices for a multinational retailer to examine the extent and permanence of violations of the law of one price (LOOP) for identical products sold in a variety of countries. We find median deviations of twenty to fifty percent. The differences are not systematic across very similar goods within a product group (e.g. two types of mirrors), nor across product groups, ruling out differences in local distribution costs as an explanation of violations of the LOOP, and pointing instead to differences in mark-ups. While divergences are large at a point in time, both their extent and their duration is limited, suggesting the presence of significant indirect competitive pressures. |
| 主题 | Industrial Organization ; International Trade and Regional Economics |
| 关键词 | Arbitrage Exchange rate passthrough Imperfect competition Law of one price Mean reversion Price setting |
| URL | https://cepr.org/publications/dp2195 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/531301 |
| 推荐引用方式 GB/T 7714 | Lars E.O. Svensson,Jon Faust. DP2195 The Equilibrium Degree of Transparency and Control in Monetary Policy. 1999. |
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