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La Ley del Precio Unitario en la Zona Metropolitana Fronteriza
[The Law of One Price in the Borderplex]

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Author Info
Blanco-Gonzalez, Lorenzo
Fullerton, Thomas M., Jr.

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Abstract

Menu prices from 8 international restaurant franchises are utilized to examine deviations from purchasing power parity between Mexico and the United States. Products in the sample are sold on both sides of the border in Ciudad Juarez, Mexico and El Paso, USA. The results indicate that Borderplex restaurant prices respond very quickly to variations in the peso/dollar exchange rate. In addition to econmetric and staitsitical evidence, graphical illustrations are also provided.

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File URL: http://mpra.ub.uni-muenchen.de/14687/
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Publisher Info
Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 14687.

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Date of creation: 10 Apr 2008
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Publication status: Published in Chihuahua Hoy 2008.VI(2008): pp. 199-213
Handle: RePEc:pra:mprapa:14687

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Related research
Keywords: Exchange Rates; Purchasing Power Parity; Mexico Border;

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Find related papers by JEL classification:
F31 - International Economics - - International Finance - - - Foreign Exchange
R11 - Urban, Rural, and Regional Economics - - General Regional Economics - - - Analysis of Growth, Development, and Changes
M21 - Business Administration and Business Economics; Marketing; Accounting - - Business Economics - - - Business Economics

References listed on IDEAS
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  1. Kakkar, Vikas, 2001. "Long run real exchange rates: evidence from Mexico," Economics Letters, Elsevier, vol. 72(1), pages 79-85, July. [Downloadable!] (restricted)
  2. Kenneth Rogoff, 1996. "The Purchasing Power Parity Puzzle," Journal of Economic Literature, American Economic Association, vol. 34(2), pages 647-668, June. [Downloadable!] (restricted)
  3. Bela Balassa, 1964. "The Purchasing-Power Parity Doctrine: A Reappraisal," Journal of Political Economy, University of Chicago Press, vol. 72, pages 584. [Downloadable!] (restricted)
  4. Heston, Alan & Summers, Robert, 1996. "International Price and Quantity Comparisons: Potentials and Pitfalls," American Economic Review, American Economic Association, vol. 86(2), pages 20-24, May. [Downloadable!] (restricted)
  5. Martin D. D. Evans & Richard K. Lyons, 2002. "Order Flow and Exchange Rate Dynamics," Journal of Political Economy, University of Chicago Press, vol. 110(1), pages 170-180, February. [Downloadable!] (restricted)
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  6. Blanco-Gonzalez, Lorenzo & Fullerton, Thomas Jr., 2006. "Borderplex menu evidence for the law of one price," Economics Letters, Elsevier, vol. 90(1), pages 28-33, January. [Downloadable!] (restricted)
  7. Engel, Charles & Rogers, John H, 2001. "Violating the Law of One Price: Should We Make a Federal Case Out of It?," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 33(1), pages 1-15, February.
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  8. Paul Cashin & C. John McDermott, 2003. "An Unbiased Appraisal of Purchasing Power Parity," IMF Staff Papers, Palgrave Macmillan Journals, vol. 50(3), pages 1. [Downloadable!] (restricted)
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  9. Pinelopi Koujianou Goldberg & Michael M. Knetter, 1997. "Goods Prices and Exchange Rates: What Have We Learned?," Journal of Economic Literature, American Economic Association, vol. 35(3), pages 1243-1272, September. [Downloadable!] (restricted)
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  10. Marcus Asplund & Richard Friberg, 2001. "The Law of One Price in Scandinavian Duty-Free Stores," American Economic Review, American Economic Association, vol. 91(4), pages 1072-1083, September. [Downloadable!] (restricted)
  11. Thomas M. Fullerton Jr & Roberto Coronado, 2001. "Restaurant Prices and the Mexican Peso," Southern Economic Journal, Southern Economic Association, vol. 68(1), pages 145-155, July.
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