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Price Level Convergence Among United States Cities: Lessons for the European Central Bank
Cecchetti, Stephen; Mark, Nelson C.; Sonora, Robert - 1998
We study the dynamics of price indices for major U.S. cities. Using panel econometric methods, we find that relative price levels among cities mean revert, but at a surprisingly slow rate. In a panel of 15 cities from 1918 to 1995, we estimate the half life of convergence to be approximately 9...
Persistent link: https://www.econbiz.de/10013369949
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Price index convergence among United States cities
Cecchetti, Stephen G.; Mark, Nelson C.; Sonora, Robert - In: International economic review 43 (2002) 4, pp. 1081-1100
Persistent link: https://www.econbiz.de/10001709599
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Price level convergence among United States cities : lessons for the European Central Bank
Cecchetti, Stephen G.; Mark, Nelson C.; Sonora, Robert - 2000
Persistent link: https://www.econbiz.de/10001474391
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Price level convergence among United States cities : lessons for the European Central Bank
Cecchetti, Stephen G. - 1998
Persistent link: https://www.econbiz.de/10000991384
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Working Paper 32
Mark, Nelson C.; Sonora, Robert; Cecchetti, Stephen - Oesterreichische Nationalbank - 1998
We study the dynamics of price indices for major U.S. cities. Using panel econometric methods, we find that relative price levels among cities mean revert, but at a surprisingly slow rate. In a panel of 15 cities from 1918 to 1995, we estimate the half life of convergence to be approximately 9...
Persistent link: https://www.econbiz.de/10010727714
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Price Level Convergence Among United States Cities: Lessons for the European Central Bank
Cecchetti, Stephen; Mark, Nelson C.; Sonora, Robert - Oesterreichische Nationalbank - 1998
We study the dynamics of price indices for major U.S. cities. Using panel econometric methods, we find that relative price levels among cities mean revert, but at a surprisingly slow rate. In a panel of 15 cities from 1918 to 1995, we estimate the half life of convergence to be approximately 9...
Persistent link: https://www.econbiz.de/10005627597
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Risk, Policy Rules, and Noise: Rethinking Deviations From Uncovered Interest Parity
Mark, Nelson C.; Wu, Yangru - Ohio State University, Department of Economics - 1996
Persistent link: https://www.econbiz.de/10005790487
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Asset Pricing under Distorted Beliefs: Are Equity Returns Too Good to Be True?
Mark, Nelson C.; Cecchetti, S.G.; Lam, P-s. - Ohio State University, Department of Economics - 1997
Persistent link: https://www.econbiz.de/10005626921
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Price level convergence among United States cities : lessons for the European Central Bank
Cecchetti, Stephen G.; Mark, Nelson C.; Sonora, Robert - 1999
Persistent link: https://www.econbiz.de/10001355904
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Price level convergence among United States cities : lessons for the European Central Bank
Cecchetti, Stephen G.; Mark, Nelson C.; Sonora, Robert - 1998
Persistent link: https://www.econbiz.de/10004228387