One TV, One Price?*
研究了欧洲各国电视价格差异，发现质量差异解释了大部分价格离散，但同款电视仍存在显著价差；欧元区价格离散较低，但并非必然源于单一货币。
Abstract We study television prices across European countries and regions. Quality as measured by observable characteristics of televisions accounts for a large share of the international dispersion in prices. Rich economies tend to consume higher‐quality goods, but sizeable international price differentials exist even for identical televisions. The valuation of brands differs significantly across borders. EMU countries display lower price dispersion but not necessarily because of the single currency. Absolute price differentials and relative price volatility increase with exchange rate volatility, but not with transport costs. Exchange rate pass‐through is low in the short run but high in the long run.