In first place, I can easily imagine that the inflation rate is the daily bread for financials. In second place, I am positively sure that the routinely compilation of the consumer price index (CPI) done by any statistical agency constitutes “a tour the force”. In third place, I am convinced...

This paper provides a new, unified, and flexible framework to measure and characterize a convergence process. Specifically, we formally define the notion of price convergence and propose a model to represent a wide range of transition paths that converge to a common steady-state. Our framework...