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Abstract
European Monetary Union was expected to have many consequences for the economies of participant countries. Theory suggested that through a higher volume of trade and stronger competition in the Eurozone, a single currency would lead to a reduction in price dispersion. As far as prices are concerned, two effects were expected: an immediate effect due to the technical characteristics of the changeover process, and a long-term one leading to price convergence. Both Euro effects are evaluated using difference-in-difference (DD) methodology. DD estimation is commonly used in the evaluation of the effects of policy programmes. Applied to the issue of introducing a single currency, the Euro effects identified are the estimated differences in price changes, price dispersion and convergence rates pre- and post-Euro between two groups of countries: Euro and non-Euro.
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- Category:
- Articles
- Type:
- artykuły w czasopismach recenzowanych i innych wydawnictwach ciągłych
- Published in:
-
RED. ZAGR. ANGIELSKI
pages 1 - 34,
ISSN: - Language:
- English
- Publication year:
- 2008
- Bibliographic description:
- Wolszczak-Derlacz J.: Does one currency mean one price?// RED. ZAGR. ANGIELSKI. -., nr. no 21 (2008), s.1-34
- Verified by:
- Gdańsk University of Technology
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