This study investigates the time-series properties of five real yen exchange rates by testing for stationarity in the context of a single structural shift. It finds that all but one of the series are stationary in conjunction with a trend- or mean-break in the late 1950s or early 1970s. By...

This paper analyzes cross-border price behavior in a three-dimensional sample of US and Canadian retail prices. Unit-root tests reveal that a majority of the cross-border relative price series are stationary and that short-run cross-border price differences are eliminated at average speeds...