Hidden Bibliographic Details
| Other authors / contributors: | Matheson, Troy, author.
International Monetary Fund. Western Hemisphere Department.
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| ISBN: | 1513509969
9781513509969
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| ISSN: | 1018-5941
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| Notes: | "September 2015."
"Western Hemisphere Department."
Includes bibliographical references (page 10).
Online resource; title from pdf title page (IMF.org Web site, viewed October 5, 2015).
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| Summary: | 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.--Abstract.
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| Standard no.: | 10.5089/9781513509969.001
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