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Titolo:
"The bigger they are, the harder they fall": Retail price differences across US cities
Autore:
OConnell, PGJ; Wei, SJ;
Indirizzi:
Harvard Univ, Ctr Int Dev, Washington, DC 20036 USA Harvard Univ Washington DC USA 20036 tr Int Dev, Washington, DC 20036 USA Harvard Univ, Brookings Inst, Washington, DC 20036 USA Harvard Univ Washington DC USA 20036 kings Inst, Washington, DC 20036 USA FDO Partners, LLC, Cambridge, MA 02138 USA FDO Partners Cambridge MA USA 02138 artners, LLC, Cambridge, MA 02138 USA
Titolo Testata:
JOURNAL OF INTERNATIONAL ECONOMICS
fascicolo: 1, volume: 56, anno: 2002,
pagine: 21 - 53
SICI:
0022-1996(200201)56:1<21:"BTATH>2.0.ZU;2-8
Fonte:
ISI
Lingua:
ENG
Soggetto:
PURCHASING POWER PARITY; REAL EXCHANGE-RATES; EQUILIBRIUM;
Keywords:
law of one price; retail goods prices;
Tipo documento:
Article
Natura:
Periodico
Settore Disciplinare:
Social & Behavioral Sciences
Citazioni:
26
Recensione:
Indirizzi per estratti:
Indirizzo: Wei, SJ Harvard Univ, Ctr Int Dev, 1775 Massachusetts Ave NW, Washington, DC 20036USA Harvard Univ 1775 Massachusetts Ave NW Washington DC USA 20036 USA
Citazione:
P.G.J. O'Connell e S.J. Wei, ""The bigger they are, the harder they fall": Retail price differences across US cities", J INT ECON, 56(1), 2002, pp. 21-53

Abstract

This paper examines the evidence for nonlinear price behavior in retail goods prices across U.S. cities. First, a simple continuous-time model is used to explore the types of price behavior that can arise in the presence of market frictions. These frictions could be interpreted as transport costs, but we prefer a broader interpretation in which they operate at the level of technology and preferences. Second, we gather price data from 24 U.S. cities on individual goods like orange juice and toothpaste. The empirical analysis reveals that price discrepancies between U.S. cities are stationary and nonlinearly mean-reverting to price parity. (C) 2002 Elsevier Science B.V. All rights reserved.

ASDD Area Sistemi Dipartimentali e Documentali, Università di Bologna, Catalogo delle riviste ed altri periodici
Documento generato il 28/03/20 alle ore 09:26:36