The power purchasing parity (PPP) hypothesis and the law of one price (LOP) predict (long-run) price equalization across the space. In the absence of market frictions and transport costs, arbitrage should guarantee the same price, in a common currency, for a given commodity in different...

The objective of the present paper is to study the impact of R&D investment on inter-regional labour migration and inter-sectoral labour reallocation in the EU, specifically at regional level. In order to capture important general equilibrium effects, we employ a structural NEG model called...