| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w5654 |
| 来源ID | Working Paper 5654 |
| Convergence to the Law of One Price Without Trade Barriers or Currency Fluctuations | |
| David C. Parsley; Shang-Jin Wei | |
| 发表日期 | 1996-07-01 |
| 出版年 | 1996 |
| 语种 | 英语 |
| 摘要 | Using a panel of 51 prices from 48 cities in the United States we provide an upper bound estimate of the rate of convergence to Purchasing Power Parity. We find convergence rates substantially higher than typically found in cross-country data. We investigate some potentially serious biases induced by i.i.d. measurement errors in the data, and find our estimates to be robust to these potential biases. We also present evidence that convergence occurs faster for larger price differences. Finally, we find that rates of convergence are slower for cities farther apart. However, our estimates suggest that distance alone can only account for a small portion of the much slower convergence rates across national borders. |
| URL | https://www.nber.org/papers/w5654 |
| 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/563134 |
| 推荐引用方式 GB/T 7714 | David C. Parsley,Shang-Jin Wei. Convergence to the Law of One Price Without Trade Barriers or Currency Fluctuations. 1996. |
| 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 | ||
| w5654.pdf（1725KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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