García-Hiernaux, Alfredo; Guerrero, David E.; McAleer, … - Tinbergen Instituut - 2013
In this paper we analyse the market integration process of the relative price distribution, develop a model to analyze … distribution. We present concepts and definitions related to the market integration process, link this to price convergence in … distribution, argue that the Law of One Price (LOP) is not a sufficient condition for market integration, and present a formal test …