Basher, Syed A.; Carrión-i-Silvestre, Josep Lluis - Xarxa de Referència en Economia Aplicada (XREAP) - 2008
This article provides a fresh methodological and empirical approach for assessing price level convergence and its relation to purchasing power parity (PPP) using annual price data for seventeen US cities. We suggest a new procedure that can handle a wide range of PPP concepts in the presence of...