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

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. ► Price-level convergence is tested among the U.S. cities at...

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Veröffentlicht in:	Economics letters 2011-02, Vol.110 (2), p.76-78
Hauptverfasser:	Yazgan, M. Ege, Yilmazkuday, Hakan
Format:	Artikel
Sprache:	eng
Schlagworte:	Convergence Convergence Micro-level prices PPP puzzle Econometrics Estimation Micro-level prices PPP puzzle Price level U.S.A Urban areas
Online-Zugang:	Volltext
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Beschreibung
Zusammenfassung:	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. ► Price-level convergence is tested among the U.S. cities at the good level. ► Median half lives are low for relative prices in the U.S.
ISSN:	0165-1765 1873-7374
DOI:	10.1016/j.econlet.2010.10.013