Noisy Information, Distance and Law of One Price Dynamics Across US Cities
NBER Working Paper No. 17815
---- Acknowledgements -----
We thank Jeff Campbell, Virgiliu Midrigan, and seminar participants at Otaru University of Commerce for helpful discussions and comments. Mario J. Crucini and Mototsugu Shintani gratefully acknowledge the financial support of National Science Foundation (SES-1030164). Takayuki Tsuruga gratefully acknowledges the financial support of Grant-in-aid for Scientific Research (22730166). The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.