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Power law for the calm-time interval of price changes

✍ Scribed by Taisei Kaizoji; Michiyo Kaizoji


Publisher
Elsevier Science
Year
2004
Tongue
English
Weight
351 KB
Volume
336
Category
Article
ISSN
0378-4371

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## Abstract This paper presents a theoretical argument that the relationship between price differences and per capita income differences across locations can be used as a cross‐sectional test for the law of one price. Since the relationship should be statistically insignificant or very weak in an i