Arbeitspapier
Price convergence in the EMU? Evidence from micro data
The establishment of European monetary union (EMU) was widely expected to cause price convergence among member states. In an investigation of this claim, the present study avoids problems of comparability and representativeness by using an extremely detailed and comprehensive scanner database on washing machine prices and sales volumes for 17 European countries. A hedonic regression yields country-specific time series for quality-adjusted price differentials. Statistically and economically significant deviations from the LOP emerge. Log t tests firmly reject price convergence among EMU countries. Small convergence clusters can be identified but they are unrelated to EMU membership.
- Language
-
Englisch
- Bibliographic citation
-
Series: Discussion Paper Series 1 ; No. 2009,06
- Classification
-
Wirtschaft
Price Level; Inflation; Deflation
Foreign Exchange
Financial Aspects of Economic Integration
Single Equation Models; Single Variables: Panel Data Models; Spatio-temporal Models
Appliances; Furniture; Other Consumer Durables
- Subject
-
price convergence
LOP
euro introduction
log t test
hedonic price regression
scanner data
Internationaler Preiszusammenhang
Europäische Wirtschafts- und Währungsunion
Hedonischer Preis
Waschmaschine
Statistischer Test
EU-Staaten
- Event
-
Geistige Schöpfung
- (who)
-
Fischer, Christoph
- Event
-
Veröffentlichung
- (who)
-
Deutsche Bundesbank
- (where)
-
Frankfurt a. M.
- (when)
-
2009
- Handle
- Last update
-
10.03.2025, 11:43 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Fischer, Christoph
- Deutsche Bundesbank
Time of origin
- 2009
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Deponierung des Testaments des Stadttambours Christoph Fischer
Gesuch des Maurermeisters Christoph Fischer von Braunau um Einwanderung und Aufnahme als Maurermeister in Baiern