The aim of the present article is to analyze the convergence of regional inflation rates in Turkey from 2004 to 2015 by adopting a distribution dynamics approach, namely discrete time Markovian chains. Convergence across regional inflation rates is politically a crucial matter for two reasons....

The aim of the present article is to analyze the convergence of regional inflation rates in Turkey from 2004 to 2015 by adopting a distribution dynamics approach, namely discrete time Markovian chains. Convergence across regional inflation rates is politically a crucial matter for two reasons....

It is generally thought that members in monetary union experience a similar level of inflation. This paper verifies this conventional belief. Using regional data, we present statistical evidence of heterogeneous inflation in Japan. Not only does the average inflation differ significantly across...

Globalization and strengthening of integration processes have, among other things, also influenced some solutions relating to monetary sovereignty of particular countries. A great number of transition countries as well as some other underdeveloped countries are facing both inefficiency in their...

It is often argued that an optimal currency area requires homogeneous regional inflation. However, previous empirical studies point out heterogeneity in sectoral inflation and geographical concentration of industries within a monetary union. It follows that there must be a difference in regional...

The purpose of this study is to identify the spatial effects of the main macroeconomic indicators of the eastern and western regions of Russia. These regions differ significantly in population density and the distances between cities. The main research question we are interested in is the...

The huge price differences between the former Soviet Union (FSU) and remaining world emerged at the beginning of 1990s. This phenomenon of hundredfold relative purchasing power of foreign currencies in the republics of FSU is not systematically explained by the traditional system of the...

In this paper we implement a non-dynamic panel threshold model for fifty U.S. states to better understand the factors determining changes in Okun's Law. We test for asymmetries in Okun's Law controlling for changes in industry employment. We find changes in output on unemployment are least...

In this paper we implement a non-dynamic panel threshold model for fifty U.S. states to better understand the factors determining changes in Okun’s Law. We test for asymmetries in Okun’s Law controlling for changes in industry employment. We find changes in output on unemployment are least...

Cyclical synchronization of home prices has important implications for monetary (and other) policies. Regional house price divergence, even over a business cycle, can inhibit labor mobility and prevent workers from moving to where they could add most to their own wages and overall growth. We...