Global Price Dispersion : Are Prices Converging or Diverging ?

  title={Global Price Dispersion : Are Prices Converging or Diverging ?},
  author={Paul R. Bergin},
  • Paul R. Bergin
  • Published 2008
This paper documents significant time-variation in the degree of global price convergence over the last two decades. In particular, there appears to be a general Ushaped pattern with price dispersion first falling and then rising in recent years, a pattern which is remarkably robust across country groupings and commodity groups. This timevariation is difficult to explain in terms of the standard gravity equation variables common in the literature, as these tend not to vary much over time or… CONTINUE READING
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