The paper attempts to examine whether there is price convergence across various regions in India. Our results indicate significant presence of cross-sectional dependence in prices in India, rendering some of the standard panel unit root tests inapplicable. Using various panel unit root tests...

We provide various norm-based definitions of different types of cross-sectional dependence and the relations between them. These definitions facilitate to comprehend and to characterize the various forms of cross-sectional dependence, such as strong, semi-strong, and weak dependence. Then we...

In this article, we study the performance of the estimator that minimizes $L_{2k}- $ order loss function (for $ k \ge \; 2 )$ against the estimators which minimizes the $L_2-$ order loss function (or the least squares estimator). Commonly occurring examples illustrate the differences in...