全球智库信息集成服务系统(G2TT): Violating the Law of One Price: Should We Make a Federal Case Out of It?

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w7242
来源ID	Working Paper 7242
	Violating the Law of One Price: Should We Make a Federal Case Out of It?
	Charles Engel; John H. Rogers
发表日期	1999-07-01
出版年	1999
语种	英语
摘要	We use new disaggregated data on consumer prices to determine why there is variability in prices of similar goods across U.S. cities. We address questions similar to those that have arisen in the international context: is this variability purely a result of market segmentation or do sticky nominal prices play a role? We also examine how the degree of tradability of a good influences price variability. Surprisingly, we find that variability is larger for traded-goods. We attribute this finding to greater price stickiness for non-traded goods. Distance between cities accounts for a significant amount of the variation in prices between pairs of cities. But we also find that nominal price stickiness plays an even more significant role.
主题	Macroeconomics ; Business Cycles ; Money and Interest Rates
URL	https://www.nber.org/papers/w7242
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/564774
推荐引用方式 GB/T 7714	Charles Engel,John H. Rogers. Violating the Law of One Price: Should We Make a Federal Case Out of It?. 1999.