THE IMPACT OF TECHNOLOGY ON REGIONAL PRICE DISPERSION IN THE US
研究了技术进步（尤其是互联网）如何影响美国区域间通货膨胀的收敛性，发现价格离散并非持续下降，但技术有助于减少区域价格差异。
We analyze the behavior of inflation in the era of fast pace information thanks to technological advances, especially internet. Owing to readily available information, prices/inflation should quickly converge under perfect competition. To this end, we explore the possibility of price convergence in regional inflation in the USA including the permanency of such a phenomenon if observed, a concern for monetary policy makers. Empirically, we analyze standard deviation of regional inflation with special attention to technology. We show that standard deviation of inflation is not constant over time, but not necessarily ever-declining. Technology seems to help reduce price dispersion across regions.