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| Author: | Engel, C. Rogers, J.H. |
| Title: | Deviations from purchasing power parity: causes and welfare costs |
| Journal: | Journal of International Economics
2001 : OCT, VOL. 55:1, p. 29-57 |
| Index terms: | EXCHANGE RATES PRICES PURCHASING POWER PARITY EUROPE |
| Language: | eng |
| Abstract: | The authors explore deviations from short-run purchasing power parity (PPP) across European cities, attempting to move beyond a "first-generation" of papers that document very large border effects. They document two very distinct types of border effects embedded in relative prices. The first is a "real barriers effect", caused by various barriers to market integration. The second is a sticky-consumer-price cum volatile exchange-rate effect. |
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