题  目：The Law of One Price: New Evidence fromChina  (1997-2012)

报告人：李嘉楠  师资博士后   厦门大学经济学院

主持人：罗德明  教授   浙江大学经济学院

时  间：2016年11月11日   星期五   13:30-15:00

地  点：浙大玉泉校区经济学院418室

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李嘉楠，2014年博士毕业于英国诺丁汉大学经济学院，现为厦门大学经济学院经济系的师资博士后，主要研究领域为国际贸易、经济史和应用计量。

Abstract：

This paper investigates to what extent price convergence across Chinese cities. Using monthly disaggregated prices for 290 goods and services commodities from 170 cities for the 1997-2012 period, our empirical methodology focuses on dynamics of price convergence while accounting for cross-sectional dependence and seasonality. Our results reveal that for an overwhelming majority of goods and services, prices did converge toward the law of one price during the 1997-2012 period. However, our estimate of the rate of convergence is substantially slower than those in previous literature. Using pair panel analysis, we find an upward trend of price dispersion. This confirms our findings from the dynamic convergence estimator indicating that the rate of convergence slowed down afterChina’s accession to the World Trade Organization (WTO) in 2001. This study shows thatChina's fast economic growth is not necessarily associated with increasing market integration.

CRPE秘书处

2016-11-4