convergence before the actual reduction of barriers to arbitrage and the systematic international price differentiation by product …

medicines conflicts with traditional sources of arbitrage (e.g., price and income differences) and instead is a form of … ‘regulatory arbitrage’ that does not produce equivalent welfare effects. We draw upon a unique dataset that contains records of … regulation, and not by price differences in line with the hypothesis of "regulatory arbitrage". …

caused by regulatory arbitrage on the capacity of regulators to use several regulatory instruments. …

lending is consistent with the most popular DWT arbitrage schemes. After the reform the spikes in Denmark disappear, but they … continue in the other Nordics. We interpret this as evidence that the reform was successful at eliminating DWT arbitrage. We … portfolio investment or dividend policy. We also consider DWT arbitrage among 15 European countries between 2010-2019. We find …

exists, arbitrage opportunities must also exist. Conversely, at times when arbitrage profits exist, asset markets are … susceptible to self-fulfilling fluctuations. The tight theoretical connection between price volatility and arbitrage is detectable …

disability risk. Optimal disability benefits rise with previous earnings so that public transfers depend not only on current …