Domestic Market Integration and the Law of One Price in Brazil:
This paper presents the first assessment domestic market integration in Brazil using the law of one price. The law of one price is tested using two panel unit root methodologies and a unique data set comprising price indices for 51 products across 11 metro-areas. We find that the law of one price ho...
Gespeichert in:
1. Verfasser: | |
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Format: | Elektronisch E-Book |
Sprache: | English |
Veröffentlicht: |
Washington, D.C
International Monetary Fund
2015
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Schriftenreihe: | IMF Working Papers: Working Paper No. 15 / 213
|
Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
Zusammenfassung: | This paper presents the first assessment domestic market integration in Brazil using the law of one price. The law of one price is tested using two panel unit root methodologies and a unique data set comprising price indices for 51 products across 11 metro-areas. We find that the law of one price holds for most tradable products and, not surprisingly, non-tradable products are found to be less likely to satisfy the law of one price. While these findings are consistent with evidence found for other countries, price convergence occurs very slowly in Brazil, suggesting relatively limited domestic market integration |
Beschreibung: | 1 Online-Ressource (11 p) |
ISBN: | 1513509969 9781513509969 |
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spelling | Góes, Carlos Verfasser aut Domestic Market Integration and the Law of One Price in Brazil Góes, Carlos Washington, D.C International Monetary Fund 2015 1 Online-Ressource (11 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers: Working Paper No. 15 / 213 This paper presents the first assessment domestic market integration in Brazil using the law of one price. The law of one price is tested using two panel unit root methodologies and a unique data set comprising price indices for 51 products across 11 metro-areas. We find that the law of one price holds for most tradable products and, not surprisingly, non-tradable products are found to be less likely to satisfy the law of one price. While these findings are consistent with evidence found for other countries, price convergence occurs very slowly in Brazil, suggesting relatively limited domestic market integration Online-Ausg Matheson, Troy Sonstige oth http://www.elibrary.imf.org/view/IMF001/22865-9781513509969/22865-9781513509969/22865-9781513509969.xml Verlag URL des Erstveröffentlichers Volltext |
spellingShingle | Góes, Carlos Domestic Market Integration and the Law of One Price in Brazil |
title | Domestic Market Integration and the Law of One Price in Brazil |
title_auth | Domestic Market Integration and the Law of One Price in Brazil |
title_exact_search | Domestic Market Integration and the Law of One Price in Brazil |
title_exact_search_txtP | Domestic Market Integration and the Law of One Price in Brazil |
title_full | Domestic Market Integration and the Law of One Price in Brazil Góes, Carlos |
title_fullStr | Domestic Market Integration and the Law of One Price in Brazil Góes, Carlos |
title_full_unstemmed | Domestic Market Integration and the Law of One Price in Brazil Góes, Carlos |
title_short | Domestic Market Integration and the Law of One Price in Brazil |
title_sort | domestic market integration and the law of one price in brazil |
url | http://www.elibrary.imf.org/view/IMF001/22865-9781513509969/22865-9781513509969/22865-9781513509969.xml |
work_keys_str_mv | AT goescarlos domesticmarketintegrationandthelawofonepriceinbrazil AT mathesontroy domesticmarketintegrationandthelawofonepriceinbrazil |