How well does the “Law of One Price” operate across countries? Interest in this question has been stimulated by the Monetary Aproach to the Balance of Payments (Frenkel and Johnson (1975)) which uses the law to determine the price of traded goods in open economies.
DAVID BORDO, M. and CHOUDHRI, E.U. (1984), "PRICE FLEXIBILITY AND THE “LAW OF ONE PRICE” SOME EVIDENCE ON THE RELATIONSHIP BETWEEN CANADIAN AND U.S. INDUSTRIAL PRICES, 1956–1975", Studies in Economics and Finance, Vol. 8 No. 1, pp. 25-50. https://doi.org/10.1108/eb028641Download as .RIS
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