This paper analyzes the market integration process of nominal prices, develops a model to analyze market integration, and presents a test of increasing market integration. A distinction is made between the economic concepts of price convergence in mean and variance. When both types of convergence occur, prices are said to converge in distribution. We present concepts and definitions related to the market integration process, link these to price convergence in distribution, argue that the Law of One Price is not a sufficient condition for market integration, and present a test of price convergence in distribution. We apply our methodology to two different cases, namely the integration of: i) the inland grains market in 19th Century USA, and ...
The European Union made a number of steps not least of them the introduction of a common currency to...
Many market integration measures are operationalized to compute their numerical values during a peri...
Existing tests of spatial market integration are commonly based on statistical criteria without an e...
This paper analyzes the market integration process of nominal prices, develops a model to analyze ma...
textabstractIn this paper we analyse the market integration process of the relative price distributi...
This paper exploits the unique case of European market integration to investigate the relationship b...
This paper studies integration of the Novosibirsk Oblast market for final goods with markets of all ...
In this paper we investigate wholesale electricity prices integration process in the main European m...
This paper aims to study the extent of integration among developed and emerg- ing stock markets in t...
This article examines the price dispersion in the European Union in the last fifteen years (1990-200...
The purpose of this study is to assess the markets integration within Malaysia by examine the price ...
This paper exploits the unique experiment of European market integration to investigate the relation...
This paper investigates the relationship between market integration and price convergence in interna...
The paper examines price convergence and increases in the efficiency of wheat markets across Europe ...
The aim of this paper is to analyse the existence of price convergence in Mercosur. Two variables ar...
The European Union made a number of steps not least of them the introduction of a common currency to...
Many market integration measures are operationalized to compute their numerical values during a peri...
Existing tests of spatial market integration are commonly based on statistical criteria without an e...
This paper analyzes the market integration process of nominal prices, develops a model to analyze ma...
textabstractIn this paper we analyse the market integration process of the relative price distributi...
This paper exploits the unique case of European market integration to investigate the relationship b...
This paper studies integration of the Novosibirsk Oblast market for final goods with markets of all ...
In this paper we investigate wholesale electricity prices integration process in the main European m...
This paper aims to study the extent of integration among developed and emerg- ing stock markets in t...
This article examines the price dispersion in the European Union in the last fifteen years (1990-200...
The purpose of this study is to assess the markets integration within Malaysia by examine the price ...
This paper exploits the unique experiment of European market integration to investigate the relation...
This paper investigates the relationship between market integration and price convergence in interna...
The paper examines price convergence and increases in the efficiency of wheat markets across Europe ...
The aim of this paper is to analyse the existence of price convergence in Mercosur. Two variables ar...
The European Union made a number of steps not least of them the introduction of a common currency to...
Many market integration measures are operationalized to compute their numerical values during a peri...
Existing tests of spatial market integration are commonly based on statistical criteria without an e...