Distance, Language, Religion, and the Law of One Price: Evidence from Canada and Nigeria

Autor:	James MacGee, David Fielding, Christopher Hajzler
Rok vydání:	2015
Předmět:	Economics and Econometrics education.field_of_study Public economics Financial economics Accounting Law of one price Population Economics Trade cost education Monthly average Finance Language differences
Zdroj:	Journal of Money, Credit and Banking. 47:1007-1029
ISSN:	0022-2879
DOI:	10.1111/jmcb.12233
Popis:	We examine the impact of physical distance, language, and religion on Law of One Price (LOP) deviations across interwar Canadian and modern Nigerian cities. The data comprise monthly average retail prices for narrowly defined goods collected by national statistical agencies. We find that differences in the fraction of the city population sharing a common language and religion have a significant impact on LOP deviations. The impact of language differences is consistent with a recently developed theory in which both trade costs and differences in signal–noise ratios contribute to LOP deviations.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::131ad8befdcc652f918f473f1e25a88b https://doi.org/10.1111/jmcb.12233 Zobrazit plný text záznamu Plný text ve formátu PDF Plný text ve formátu HTML
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