Testing for spatial market integration: evidence for Colombia using a pairwise approach
利用哥伦比亚13个城市153种消费品的消费者价格指数数据，通过成对方法分析价格差异的时间序列特性，发现未加工食品的市场整合更常见，且距离越远的城市价格调整速度越慢。
Abstract We examine the extent of spatial market integration in Colombia using consumer price index data for 153 consumer goods in 13 cities. An econometric analysis of the time‐series properties of all the possible city price differentials reveals that market integration tends to occur more frequently in unprocessed food products, as opposed to processed foods, other traded and nontraded products. The results also support the view that, except for nontraded products, the speed at which prices adjust to the long‐run equilibrium is slower for cities that are farther apart.