全球智库信息集成服务系统(G2TT): Regional Patterns in the Law of One Price: The Roles of Geography vs. Currencies

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w5395
来源ID	Working Paper 5395
	Regional Patterns in the Law of One Price: The Roles of Geography vs. Currencies
	Charles Engel; John H. Rogers
发表日期	1995-12-01
出版年	1995
语种	英语
摘要	We find evidence that the law of one price (LOOP) holds more nearly for country pairs that are within geographic regions than for country pairs that are not. These findings are established using disaggregated consumer price data from 23 countries (including data from eight North American cities). We find that failures of LOOP are closely related to nominal exchange rate variability, suggesting a link to sticky nominal prices. We also find that distance can explain failures of LOOP, suggesting the failures arise from imperfect market integration. However, these two sources do not explain all of the failure of LOOP. We speculate that integrated marketing and distribution systems within regions cause LOOP to hold more nearly intraregionally. We present a formal model of marketing and distribution to illustrate this hypothesis.
主题	International Economics ; International Macroeconomics ; Trade
URL	https://www.nber.org/papers/w5395
来源智库	National Bureau of Economic Research (United States)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/562850
推荐引用方式 GB/T 7714	Charles Engel,John H. Rogers. Regional Patterns in the Law of One Price: The Roles of Geography vs. Currencies. 1995.

条目包含的文件
文件名称/大小	资源类型	版本类型	开放类型	使用许可
w5395.pdf（549KB）	智库出版物		限制开放	CC BY-NC-SA	浏览