The paper presents univariate and panel unit root tests for gasoline and oil price convergence over the last decade. We test for the absolute versus relative version of the law of one price (LOOP) and estimate the speed of convergence as well as its development over time. Our results show that...

This paper challenges established claims of comparable degrees of market integration in Europe and China on the eve of industrialization. Our empirical strategy focuses on the dynamics of price convergence and accounts for general equilibrium effects arising from common shocks and network...

We assess whether a group of eight Asia-Pacific securitized real estate markets display similar volatility trend over the past 15 years, 1995–2009, using an econometric model that incorporates common volatility effects across the sample markets. The empirical results indicate the presence of...