dc.contributor.author | Lee, Inkoo | en |
dc.contributor.author | Park, Sang Soo | en |
dc.contributor.author | Zachariadis, Marios | en |
dc.creator | Lee, Inkoo | en |
dc.creator | Park, Sang Soo | en |
dc.creator | Zachariadis, Marios | en |
dc.date.accessioned | 2023-10-04T06:22:32Z | |
dc.date.available | 2023-10-04T06:22:32Z | |
dc.date.issued | 2023-08 | |
dc.identifier.issn | 0008-4085 | |
dc.identifier.uri | http://gnosis.library.ucy.ac.cy/handle/7/65731 | |
dc.description.abstract | We consider multiple sources of non-linearity in good-level law-of-one-price deviations across the globe using a structural model that accounts for previously omitted variables and allows estimation of good-level convergence rates both within and outside the bands of no trade. Accounting for the role of theoretically implied variables and their non-linear interactions in the convergence process of law-of-one-price deviations, we find that good-level convergence rates are systematically faster compared with convergence estimates based on reduced-form models. Contrary to conventional wisdom, good-level price differentials exhibit mean-reverting behaviour even within the bands of no trade. Moreover, mean-reversion rates are strongly related to economic characteristics such as tradability and a good’s non-traded input content. | en |
dc.language.iso | eng | en |
dc.source | Canadian Journal of Economics | en |
dc.source.uri | https://onlinelibrary.wiley.com/doi/10.1111/caje.12672 | en |
dc.title | Non-linearities in International Prices | en |
dc.type | info:eu-repo/semantics/article | en |
dc.identifier.doi | 10.1111/caje.12672 | en |
dc.description.volume | 56 | en |
dc.description.issue | 3 | |
dc.description.startingpage | 1032 | en |
dc.description.endingpage | 1062 | |
dc.author.faculty | Σχολή Οικονομικών Επιστημών και Διοίκησης / Faculty of Economics and Management | |
dc.author.department | Τμήμα Οικονομικών / Department of Economics | |
dc.type.uhtype | Article | en |
dc.contributor.orcid | Zachariadis, Marios [0000-0002-2308-1881] | |
dc.type.subtype | SCIENTIFIC_JOURNAL | en |
dc.gnosis.orcid | 0000-0002-2308-1881 | |