| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP8730 |
| DP8730 Consumer Arbitrage Across a Porous Border | |
| Keith Head | |
| 发表日期 | 2012 |
| 出版年 | 2012 |
| 语种 | 英语 |
| 摘要 | National borders, including the easily crossed US-Canada border, have been shown to separate markets and sustain price differences. The resulting arbitrage opportunities vary temporally with the exchange rate and cross-sectionally with travelers' distance to the border. We estimate a structural model of the border crossing decision using data on the location of Canadian crossers and their date of travel. Price differences motivate cross-border travel; a 10% exchange rate appreciation raises the average crosser's welfare by 2.1%. Distance strongly inhibits crossings, with an implied cost of $0.9 per mile. These costs prevent consumers from fully arbitraging price differences, leading to partial segmentation. |
| 主题 | International Macroeconomics ; International Trade and Regional Economics |
| 关键词 | Market segmentation Travel costs Cross-border travel Real exchange rate |
| URL | https://cepr.org/publications/dp8730 |
| 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/537566 |
| 推荐引用方式 GB/T 7714 | Keith Head. DP8730 Consumer Arbitrage Across a Porous Border. 2012. |
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