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PRICE LEVEL CONVERGENCE Evidence from Pakistan Cities
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نویسنده
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GHAURI SAGHIR PERVAIZ ,QAYYUM ABDUL ,ARBY MUHAMMAD FAROOQ
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منبع
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pakistan economic and social review - 2013 - دوره : 51 - شماره : 1 - صفحه:1 -12
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چکیده
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We examine convergence of prices among 35 pakistani cities and also explore how location of cities affects the convergence. we have found that there is bilateral price-level convergence for only food group and speed of convergence is around 3 months. on the other hand, prices of non-food commodities have very low speed of adjustment with 20 months. as a result, the overall cpi basket (food and non-food combined) has a moderate speed of convergence – 8 months. moreover, relative prices have been found sensitive to locality as well as distance among them.
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کلیدواژه
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Inflation ,Price convergence ,Law of one price ,Relative price variability
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آدرس
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State Bank of Pakistan, Pakistan. Pakistan Institute of Development Economics, Pakistan, State Bank of Pakistan, Pakistan. Pakistan Institute of Development Economics, Pakistan, State Bank of Pakistan, Pakistan. Pakistan Institute of Development Economics, Pakistan
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Authors
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