Akram, Q. Farooq; Rime, Dagfinn; Sarno, Lucio - In: Journal of Banking & Finance 33 (2009) 10, pp. 1741-1754
This paper investigates the validity of the law of one price (LOP) in international financial markets by examining the frequency, size and duration of inter-market price differentials for borrowing and lending services ('one-way arbitrage'). Using a unique data set for three major capital and...