We compare integration of economic, matching and networking markets. There can be losers from in all three cases, but their relative numbers depend on the type market. many pure exchange economies. are relatively few In case, tend to lie between those other two cases. particular, grand economy markets, there weakly more non-losers than losers, with strict preferences gainers losers.

Pukthuanthong and Roll (2009) measure the degree of market integration by percentage a market’s returns explained global risk factors. However, during periods crisis characterised high volatility, their may be biased. This paper investigates determinants explanatory power in multi-factor model crises. We show that is influenced factor heteroscedasticity, changes loadings residual heteroscedasti...

The Role of Borders, Languages, and Currencies as Obstacles to Labor Market Integration* Based on a modified Spatiotemporal Autoregressive Model (STAR), we analyze whether borders still constitute significant impediments to labor market integration in the European Union, despite the formal law of free movement of labor. Using regional data from the EU-15 countries over 21 years, we find that th...

This paper studies the integration of regional goods markets in Russia over period 2001–19, analysing law one price. The analysis involves all pairs country’s regions, which provides a comprehensive spatial pattern market integration. region are classified as belonging to four groups: perfectly integrated, conditionally not integrated but tending towards (converging), and neither nor On average...