INTERNATIONAL DEVIATIONS FROM THE LAW OF ONE PRICE: THE ROLE OF SEARCH FRICTIONS AND MARKET SHARE*
研究存在搜索摩擦的行业中，一价定律在国际上的偏离程度和持续性，发现成本差异导致国内外企业定价不同，且市场份额影响成本冲击的传导。
This article examines the size and persistence of international deviations from the law of one price in an industry with search frictions. Cost differences lead foreign and domestic firms to price differently within countries. When local firms are more common in each country, there are large and persistent price differences across countries. Large and persistent changes in international relative costs lead to large and persistent changes in international relative prices. Dynamic considerations imply that the amount of a cost shock firms pass through to prices is U‐shaped in the market share of firms receiving the shock.