摘要：The paper presents univariate and panel unit root tests for gasoline and oil price convergence
over the last decade. We test for the absolute versus relative version of the law of one price
(LOOP) and estimate the speed of convergence as well as its development over time. Our
results show that the absolute version of the LOOP cannot be supported. Constant price
differences between countries remain, caused mainly by existing tax differences. The relative
version of the LOOP is strongly supported by the data. The speed of convergence increased
over time, but differs for gross and net-of-tax prices. We can show that national tax policy by
EU member states is not (yet) threatened by arbitrage due to cross-border shopping.
关键词：price convergence, law of one price, gasoline, international taxation, European
integration, panel unit roots
