The studies' main aim is to investigate the effects of the EU-10 enlargement on price convergence within the Internal Market. It distinguishes between the opposite forces provided by: (1) the catching up effect of the EU-10, expected to lead to a rise in price levels; and (2) increased...

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...

This paper analyzes whether the Law of One Price (LOOP) holds in the housing market of five metropolitan areas of South Africa, namely Cape Town, Durban, Greater Johannesburg, Port Elizabeth/Uitenhage and Pretoria. We test the existence of LOOP using the efficient unit root tests proposed by...

This paper assesses the nature and degree of bilateral economic integration preceding and following the implementation of the Canada- U.S. Free Trade Agreement (CUSTA). Various price-based and quantity- based indicators of economic integration are assessed. Results vary depending upon the...

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 LOOP and estimate the speed of convergence as well as its development over time. Our results show that the absolute version...

This paper examines whether European monetary union has lowered the degree of price dispersion among member countries. The difference-in-differences methodology is applied to four independent data sets containing prices of identical goods. While the results reported in the paper vary somewhat...

Two decades have passed now since the oil price shocks of the 1970s and since then <p> energy prices have - apart from short periods of price instability - evolved relatively <p> smoothly in the industrialized countries. Energy taxes in many countries differ <p> markedly thereby causing differences in...</p></p></p>

This study investigates the level of market integration in the North American Onion Markets. A two-sample period analysis shows an increase in the speed of price convergence overtime, suggesting deeper market integration as NAFTA was fully implemented. Further analysis showed that U.S.-Canadian...

Data from Okinawa's monetary union with the United States in 1958 and with Japan in 1972 are used to obtain a quantitative indication of how monetary union might affect the behavior of nominal and real shocks across two economies. With monetary union, the variance of the real exchange rate...

This paper argues that the conventional view which sees international transport costs reductions as the major force in price convergence cannot be upheld when the period under scrutiny is extended to the last two centuries. Domestic transport costs fell for land-locked regions while real...