Crucini, Mario; Telmer, Chris; Zachariadis, Marios - Carnegie Mellon University, Tepper School of Business
We study good-by-good deviations from the Law-of-One-Price for over 5,000 goods and services between European Union countries for the years 1975, 1980, 1985 and 1990. We find that between most countries there are roughly as many overpriced goods as there are underpriced goods. This feature is...