Affinito, Massimiliano; Farabullini, Fabio - In: International Journal of Central Banking 5 (2009) 1, pp. 5-37
To measure integration, economic theory provides a clear background regarding price convergence: the law of one price. This paper is the first test of this law in euro-area retail banking. Since the law can be verified only on similar assets, we use recent harmonized data and a methodology that...