Convergence in price levels across US cities

Ho-Chuan Huang (), Wei-han Liu and Chih-Chuan Yeh

Economics Letters, 2012, vol. 114, issue 3, 245-248

Abstract: This paper empirically tests for convergence in consumer price indices across 17 major cities in US over the 1918–2008 period. By using the novel OLS estimator introduced by Bao, Y., Dhongde, S., 2009. Testing convergence in income distribution. Oxford Bulletin of Economics and Statistics 71, 295–302, we find overwhelming evidences in support of price level convergence over time.

Keywords: CPI; Convergence; Panel data; GMM (search for similar items in EconPapers)
JEL-codes: C23 E31 (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:114:y:2012:i:3:p:245-248

DOI: 10.1016/j.econlet.2011.09.039

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