Abstract：Inter-regional price differences reflect the degree of market segmentation. This paper focuses on the heterogeneity factors, such as location, size, which impact on the price differences .We divided the CPI sub-items of 36 cities by local production, and verified the nonlinear variation features for price differences by Exponential Smooth Transition Autoregressive (ESTAR) model. The conclusions are as follows: the most cities' price differences are convergent, about 50% of the cities in line with the nonlinear of the lower the price deviation, the slower the convergence rate; the heterogeneity has significant impact on price differences, low transaction costs causing big cities (coastal cities)to have higher convergence ratio than small cities (Mainland cities), but the high labor and living cost making the convergence ratio of locally-produced Commodity in big city become lower. The results illustrate that the labor and living cost are becoming a major source of price differences between cities, which also hinder the market integration process, and transport costs at least no longer important in big cities.
刘发跃 孟望生. 异质性会影响城市间价格差异吗？——基于ESTAR模型的收敛性分析[J]. , 2016, (1): 111-121.
LIU Fayue MENG Wangsheng. Will Heterogeneity Result in the Difference of Commodity Price among Cities?——A Convergent Analysis Based on ESTAR Model. , 2016, (1): 111-121.
Parsley D C, Wei S.Convergence to the law of one price without trade barriers or currency fluctuations[J]. The Quarterly Journal of Economics. 1996, 111(4): 1211-1236.
[3]
Dreger C, Kosfeld R.Do regional price levels converge?: paneleconometric evidence based on German districts[R]. Discussion papers//German Institute for Economic Research, 2007.
[4]
O Connell P G, Wei S.“The bigger they are, the harder they fall”: Retail price differences across US cities[J]. Journal of International Economics. 2002, 56(1): 21-53.
[5]
Young A.The razor's edge: Distortions and incremental reform in the People's Republic of China[J]. The Quarterly Journal of Economics. 2000, 115(4): 1091-1135.
[6]
陈敏, 桂琦寒, 陆铭, et al.中国经济增长如何持续发挥规模效应?——经济开放与国内商品市场分割的实证研究[J]. 经济学(季刊). 2008(01): 125-150.
Fan C S, Wei X.The law of one price: evidence from the transitional economy of China[J]. The Review of Economics and Statistics. 2006, 88(4): 682-697.
[15]
Lan Y, Sylwester K.Does the law of one price hold in China? Testing price convergence using disaggregated data[J]. China Economic Review. 2010, 21(2): 224-236.
Cecchetti S G, Mark N C, Sonora R J.Price Index Convergence Among United States Cities*[J]. International Economic Review. 2002, 43(4): 1081-1099.
[18]
Nath H K, Sarkar J.City Relative Price Dynamics in Australia: Are Structural Breaks Important?*[J]. Economic Record. 2013.
[19]
Levin A, Lin C, James Chu C.Unit root tests in panel data: asymptotic and finite-sample properties[J]. Journal of econometrics. 2002, 108(1): 1-24.
[20]
Maddala G S, Wu S.A comparative study of unit root tests with panel data and a new simple test[J]. Oxford Bulletin of Economics and statistics. 1999, 61(S1): 631-652.
2016, Vol. 
浙公网安备 33011802000512号