This paper applies the Johansen Cointegration procedure to test the law of one price (LOOP) for twelve international … arrangement. Price index for each market is estimated using the repeat sales method. The order of integration of each price series … was determined using the augmented Dickey-Fuller and the DF-GLS tests. The results show that only five price index series …

previously sold, an alternative is to base an estimate on the previous sale price. The combination of these approaches has been … employed in real estate price index construction (e.g., Jiang et al. 2015); in the present context, we treat the use of these …