There has been mounting evidence that the inflation process has been changing. Inflation is
now much lower and much more stable around the globe. And its sensitivity to measures of …

The period 1861 to 1920 witnessed sharp price convergence in British Indian grain markets.
Previous research attributed this to the construction of railways. But tests examining price …

Federal Reserve Bank of St. Louis Review, September/October 2009, 91 (5, Part 1), pp. 397-
402. the issuance of exotic new financial instruments.(ii) A significant portion of these …

Ethnic diversity is associated with poorer economic development, but why? I argue that
market segmentation is one mechanism linking diversity to economic underdevelopment …

This paper documents significant time-variation in the degree of global price convergence
over the last fifteen years. In particular, there appears to be a general U-shaped pattern with …

This paper analyzes relative wheat price fluctuations to investigate market integration
among 72 European and US cities. Applying a Dynamic Factor Model, which has seldom …

This paper investigates the barriers to trade in Central Asia. While much of the existing
literature on international integration of FSU countries has focused on the quantities traded …

This paper empirically establishes the significant roles of transport costs in price dispersions
across regions. We identify and estimate the iceberg-type distance-elastic transport costs as …

We use consumer price data for 81 European cities (in Germany, Austria, Finland, Italy,
Spain, Portugal and Switzerland) to study the impact of the introduction of the euro on goods …

This paper studies border effects in Eastern Africa by exploiting a consumer price data set
covering 4 out of 5 EAC member states, 39 cities and 24 goods over the period 2004-2008 …