We study good-by-good deviations from the Law-of-One-Price (LOP) for over 1,800 retail goods and services between all European Union (EU) countries for the years 1975, 1980, 1985, and 1990. We find that for each of these years, after we control for differences in income and value-added tax (VAT)...

This paper analyzes the convergence process of Central-West European wholesale electricity markets from 2004 to the beginning of 2011. Jevon's law of price indifference is scrutinized using price correlation, parametric and nonparametric tests of price-differences and cointegration analysis. As...

We explore deviations from short-run purchasing power parity across European cities, attempting to move beyond a "first generation" of papers that document very large border effects. We document two very distinct types of border effects embedded in relative prices. The first is a "real barriers...