The international asset pricing models are mostly developed in the
case of parity failure (investors of di?erent countries do not agree on the
expected returns on securities). In this case, an equilibrium in the international
asset markets may exist, but not in the international good
markets. In our paper, we prove the existence of an equilibrium in both
the asset and the good markets. We focus also on the links between
parities, no-arbitrage conditions and the general equilibrium. We show
that no-arbitrage conditions for international asset and good markets are
necessary and sufficient to an equilibrium in both the markets.