메뉴 건너뛰기




Volumn 55, Issue 3, 2008, Pages 629-644

Persistence in law of one price deviations: Evidence from micro-data

Author keywords

Dynamic panel; Law of one price; Purchasing power parity; Real exchange rates

Indexed keywords


EID: 43049154975     PISSN: 03043932     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.jmoneco.2007.12.010     Document Type: Article
Times cited : (116)

References (31)
  • 1
    • 34247169507 scopus 로고    scopus 로고
    • Menu costs and Markov inflation: a theoretical revision with new evidence
    • Ahlin C., and Shintani M. Menu costs and Markov inflation: a theoretical revision with new evidence. Journal of Monetary Economics 54 3 (2007) 753-784
    • (2007) Journal of Monetary Economics , vol.54 , Issue.3 , pp. 753-784
    • Ahlin, C.1    Shintani, M.2
  • 2
    • 84881844837 scopus 로고
    • Some tests of specification for panel data: Monte Carlo evidence and an application to employment equations
    • Arellano M., and Bond S. Some tests of specification for panel data: Monte Carlo evidence and an application to employment equations. Review of Economic Studies 58 2 (1991) 277-297
    • (1991) Review of Economic Studies , vol.58 , Issue.2 , pp. 277-297
    • Arellano, M.1    Bond, S.2
  • 3
    • 33748931988 scopus 로고    scopus 로고
    • U.S. real exchange rate fluctuations and relative price fluctuations
    • Betts C.M., and Kehoe T.J. U.S. real exchange rate fluctuations and relative price fluctuations. Journal of Monetary Economics 53 7 (2006) 1297-1326
    • (2006) Journal of Monetary Economics , vol.53 , Issue.7 , pp. 1297-1326
    • Betts, C.M.1    Kehoe, T.J.2
  • 4
    • 4544260608 scopus 로고    scopus 로고
    • Some evidence on the importance of sticky prices
    • Bils M., and Klenow P.J. Some evidence on the importance of sticky prices. Journal of Political Economy 112 5 (2004) 947-985
    • (2004) Journal of Political Economy , vol.112 , Issue.5 , pp. 947-985
    • Bils, M.1    Klenow, P.J.2
  • 5
    • 0043226159 scopus 로고    scopus 로고
    • Distribution costs and real exchange rate dynamics during exchange-rate-based stabilizations
    • Burstein A.T., Neves J.C., and Rebelo S. Distribution costs and real exchange rate dynamics during exchange-rate-based stabilizations. Journal of Monetary Economics 50 6 (2003) 1189-1214
    • (2003) Journal of Monetary Economics , vol.50 , Issue.6 , pp. 1189-1214
    • Burstein, A.T.1    Neves, J.C.2    Rebelo, S.3
  • 6
    • 0036655918 scopus 로고    scopus 로고
    • Can sticky price models generate volatile and persistent real exchange rates?
    • Chari V.V., Kehoe P.J., and McGrattan E.R. Can sticky price models generate volatile and persistent real exchange rates?. Review of Economic Studies 69 3 (2002) 533-563
    • (2002) Review of Economic Studies , vol.69 , Issue.3 , pp. 533-563
    • Chari, V.V.1    Kehoe, P.J.2    McGrattan, E.R.3
  • 7
    • 15844420471 scopus 로고    scopus 로고
    • Does 'aggregation bias' explain the PPP puzzle?
    • Chen S.S., and Engel C. Does 'aggregation bias' explain the PPP puzzle?. Pacific Economic Review 10 1 (2005) 49-72
    • (2005) Pacific Economic Review , vol.10 , Issue.1 , pp. 49-72
    • Chen, S.S.1    Engel, C.2
  • 8
    • 0033998054 scopus 로고    scopus 로고
    • On cross-country differences in the persistence of real exchange rates
    • Cheung Y.W., and Lai K.S. On cross-country differences in the persistence of real exchange rates. Journal of International Economics 50 2 (2000) 375-397
    • (2000) Journal of International Economics , vol.50 , Issue.2 , pp. 375-397
    • Cheung, Y.W.1    Lai, K.S.2
  • 9
    • 33745954934 scopus 로고    scopus 로고
    • Unbiased estimation of the half-life to PPP convergence in panel data
    • Choi C.Y., Mark N.C., and Sul D. Unbiased estimation of the half-life to PPP convergence in panel data. Journal of Money, Credit and Banking 38 4 (2006) 921-938
    • (2006) Journal of Money, Credit and Banking , vol.38 , Issue.4 , pp. 921-938
    • Choi, C.Y.1    Mark, N.C.2    Sul, D.3
  • 10
    • 43049159913 scopus 로고    scopus 로고
    • Crucini, M.J., Shintani, M., 2006. Persistence in law-of-one-price deviations: evidence from micro-data. Working Papers 06-W16, Department of Economics, Vanderbilt University.
    • Crucini, M.J., Shintani, M., 2006. Persistence in law-of-one-price deviations: evidence from micro-data. Working Papers 06-W16, Department of Economics, Vanderbilt University.
  • 12
    • 43049180524 scopus 로고    scopus 로고
    • Cumby, R.E., 1997. Forecasting exchange rates and relative prices with the hamburger standard: is what you want what you get with McParity? Mimeo, Georgetown University.
    • Cumby, R.E., 1997. Forecasting exchange rates and relative prices with the hamburger standard: is what you want what you get with McParity? Mimeo, Georgetown University.
  • 13
    • 0032870113 scopus 로고    scopus 로고
    • Accounting for U.S. real exchange rate changes
    • Engel C. Accounting for U.S. real exchange rate changes. Journal of Political Economy 107 3 (1999) 507-538
    • (1999) Journal of Political Economy , vol.107 , Issue.3 , pp. 507-538
    • Engel, C.1
  • 15
    • 0000518725 scopus 로고
    • National and international returns to scale in the modern theory of international trade
    • Ethier W.J. National and international returns to scale in the modern theory of international trade. American Economic Review 72 3 (1982) 389-405
    • (1982) American Economic Review , vol.72 , Issue.3 , pp. 389-405
    • Ethier, W.J.1
  • 16
    • 0030462091 scopus 로고    scopus 로고
    • A panel project on purchasing power parity: mean reversion within and between countries
    • Frankel J.A., and Rose A.K. A panel project on purchasing power parity: mean reversion within and between countries. Journal of International Economics 40 1-2 (1996) 209-224
    • (1996) Journal of International Economics , vol.40 , Issue.1-2 , pp. 209-224
    • Frankel, J.A.1    Rose, A.K.2
  • 17
    • 10944254795 scopus 로고    scopus 로고
    • Market integration and convergence to the Law of One Price: evidence from the European car market
    • Goldberg P.K., and Verboven F. Market integration and convergence to the Law of One Price: evidence from the European car market. Journal of International Economics 65 1 (2005) 49-73
    • (2005) Journal of International Economics , vol.65 , Issue.1 , pp. 49-73
    • Goldberg, P.K.1    Verboven, F.2
  • 18
    • 0000632311 scopus 로고    scopus 로고
    • Inference for unit roots in dynamic panels where the time dimension is fixed
    • Harris R.D.F., and Tzavalis E. Inference for unit roots in dynamic panels where the time dimension is fixed. Journal of Econometrics 91 2 (1999) 201-226
    • (1999) Journal of Econometrics , vol.91 , Issue.2 , pp. 201-226
    • Harris, R.D.F.1    Tzavalis, E.2
  • 19
    • 38249029117 scopus 로고
    • Testing for individual effects in autoregressive models
    • Holtz-Eakin D. Testing for individual effects in autoregressive models. Journal of Econometrics 39 3 (1988) 297-307
    • (1988) Journal of Econometrics , vol.39 , Issue.3 , pp. 297-307
    • Holtz-Eakin, D.1
  • 20
    • 0002816448 scopus 로고
    • Estimating vector autoregressions with panel data
    • Holtz-Eakin D., Newey W., and Rosen H.S. Estimating vector autoregressions with panel data. Econometrica 56 6 (1988) 1371-1395
    • (1988) Econometrica , vol.56 , Issue.6 , pp. 1371-1395
    • Holtz-Eakin, D.1    Newey, W.2    Rosen, H.S.3
  • 21
  • 22
    • 1642326173 scopus 로고    scopus 로고
    • Half-lives of deviations from PPP: contrasting traded and non-traded components of consumption baskets
    • Kim J. Half-lives of deviations from PPP: contrasting traded and non-traded components of consumption baskets. Review of International Economics 12 1 (2004) 162-168
    • (2004) Review of International Economics , vol.12 , Issue.1 , pp. 162-168
    • Kim, J.1
  • 23
    • 12344324148 scopus 로고    scopus 로고
    • Purchasing power parity for traded and non-traded goods: a structural error correction model approach
    • Kim J., and Ogaki M. Purchasing power parity for traded and non-traded goods: a structural error correction model approach. Monetary and Economic Studies 22 1 (2004) 1-26
    • (2004) Monetary and Economic Studies , vol.22 , Issue.1 , pp. 1-26
    • Kim, J.1    Ogaki, M.2
  • 25
    • 0000604269 scopus 로고
    • Biases in dynamic models with fixed effects
    • Nickell S. Biases in dynamic models with fixed effects. Econometrica 49 6 (1981) 1417-1426
    • (1981) Econometrica , vol.49 , Issue.6 , pp. 1417-1426
    • Nickell, S.1
  • 27
    • 34848866264 scopus 로고    scopus 로고
    • A prism into the PPP puzzles: the micro-foundations of Big Mac real exchange rates
    • Parsley D., and Wei S. A prism into the PPP puzzles: the micro-foundations of Big Mac real exchange rates. The Economic Journal 117 523 (2007) 1336-1356
    • (2007) The Economic Journal , vol.117 , Issue.523 , pp. 1336-1356
    • Parsley, D.1    Wei, S.2
  • 28
    • 84979192595 scopus 로고
    • Internal and external balance: the role of price and expenditure effects
    • Salter W.E.G. Internal and external balance: the role of price and expenditure effects. Economic Record 35 71 (1959) 226-238
    • (1959) Economic Record , vol.35 , Issue.71 , pp. 226-238
    • Salter, W.E.G.1
  • 29
    • 37249067421 scopus 로고
    • The theory of trade in middle products
    • Sanyal K.K., and Jones R.W. The theory of trade in middle products. American Economic Review 72 1 (1982) 16-31
    • (1982) American Economic Review , vol.72 , Issue.1 , pp. 16-31
    • Sanyal, K.K.1    Jones, R.W.2
  • 30
    • 0000922266 scopus 로고
    • Excess capacity, monopolistic competition, and international transmission of monetary disturbances
    • Svennsson L.E.O., and van Wijnbergen S. Excess capacity, monopolistic competition, and international transmission of monetary disturbances. The Economic Journal 99 397 (1989) 785-805
    • (1989) The Economic Journal , vol.99 , Issue.397 , pp. 785-805
    • Svennsson, L.E.O.1    van Wijnbergen, S.2
  • 31
    • 0002828270 scopus 로고
    • Economic control in a dependent economy
    • Swan T.W. Economic control in a dependent economy. Economic Record 36 73 (1960) 51-66
    • (1960) Economic Record , vol.36 , Issue.73 , pp. 51-66
    • Swan, T.W.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.