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Price-level convergence: New evidence from U.S. cities

  • Yazgan, M. Ege
  • Yilmazkuday, Hakan

This paper tests the bilateral price-level convergence among 52 U.S. cities at the good level by using a new econometric approach. The estimated median half lives are far below the half lives found in the corresponding studies for the U.S.

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File URL: http://www.sciencedirect.com/science/article/B6V84-51C9JYF-1/2/23b0a486b5869837b09d2abdd3368316
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Article provided by Elsevier in its journal Economics Letters.

Volume (Year): 110 (2011)
Issue (Month): 2 (February)
Pages: 76-78

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Handle: RePEc:eee:ecolet:v:110:y:2011:i:2:p:76-78
Contact details of provider: Web page: http://www.elsevier.com/locate/ecolet

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  1. Elliott, Graham & Rothenberg, Thomas J & Stock, James H, 1996. "Efficient Tests for an Autoregressive Unit Root," Econometrica, Econometric Society, vol. 64(4), pages 813-36, July.
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  16. Janet Ceglowski, 2003. "The law of one price: intranational evidence for Canada," Canadian Journal of Economics, Canadian Economics Association, vol. 36(2), pages 373-400, May.
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