NDLI: Should the Law of One Price be Pushed Away? Evidence from International Commodity Markets

Content Provider	Semantic Scholar
Author	Vataja, Juuso
Copyright Year	2000
Abstract	The long-term validity of the law-of-one-price hypothesis is explored empirically in international markets for individual commodities. The data consist of 10 commodity groups: lead, maize, newsprint, rice, rubber, sugar, tin, wheat, wool, and zinc. The results provide broad support for the hypothesis: out of the 17 bivariate relationships investigated, the hypothesis is supported in 14 cases. The results also imply that two thirds of the deviations from the “law” are eliminated within one year, on average. Thus, at the commodity level, the adjustment speeds are found to be considerably faster than what has been found previously for aggregate price indices.
Starting Page	399
Ending Page	415
Page Count	17
File Format	PDF HTM / HTML
DOI	10.1023/A:1008330727596
Volume Number	11
Alternate Webpage(s)	https://page-one.springer.com/pdf/preview/10.1023/A:1008330727596
Alternate Webpage(s)	https://doi.org/10.1023/A%3A1008330727596
Language	English
Access Restriction	Open
Content Type	Text
Resource Type	Article

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