The paper attempts to examine whether there is price convergence across various regions in India. Our results indicate significant presence of cross-sectional de- pendence in prices in India, rendering some of the standard panel unit root tests inapplicable. Using various panel unit root tests...

As much of the world goes searching for alternative sources of energy to oil, Brazil's three-decade experience in developing a successful substitute for gasoline merits attention. Brazil is the only sizable economy to date to have developed a ubiquitously distributed alternative to oil-based...

We empirically analyze convergence of European producer and consumer prices for diesel fuel and investigate the role of excise taxation. By comparing the speed of convergence of prices and taxes we find a surprisingly fast speed of convergence for consumer prices. While this can in part be...

In this paper, we examine the determinants of inflation differentials in a panel of the newEuropean Union member states vis-‡-vis the euro area in 1997-2007. Our main results are as follows. Exchange rate appreciation and higher price level in the new EU members is associated with narrower...

In this paper, we present evidence on the statistical features of observed dispersion in HICP inflation rates in the Euro area. Our descriptive exercise shows that there is still a remarkable dispersion of HICP inflation rates across the member countries. We find that most of dispersion...

The study analyses the relationship between real economy convergence and the convergence of relative prices. Similar to its peers in the CEE region, a significant part of Hungary's price convergence with developed Western European countries can be attributed to the convergence of the real...

This paper analyzes the price dynamics of Brazilian cities between 1995 and 2012 to identify stylized facts about price convergence, the reversal speed of deviations between relative prices and purchasing power parity (PPP). There is evidence of a strong reduction in the absolute dispersion of...

In 2007, Germany changed network access regulation in the natural gas sector and introduced a so-called entry-exit system. The re-regulation’s spot market effects remain to be examined. We use cointegration analysis and a state space model with time-varying coefficients to study the...

Taking the law of one price as a test for market integration, the spatial set-up of Russia's market integration over 1994-2000 is analyzed with the use of time series of the cost of a staples basket across Russian regions. The law is found to hold for about 50% to 60% of Russian regions,...

This study addresses price convergence in two cities in Turkey (Istanbul and Ankara) using the annual data over the three quarters of the 20th century (1922-1998), characterized by prevailing high inflation rates for most of the period. In contrast to the rest of the literature addressing...