Price convergence in the EU-an aggregate and disaggregate approach - Publikacja - MOST Wiedzy

Wyszukiwarka

Price convergence in the EU-an aggregate and disaggregate approach

Abstrakt

This article examines the price dispersion in the European Union (EU) over 15 years (1990-2005). An extensive overview of the literature offers inconclusive results with the half-lives of price shocks from 2.8 to 282 months. Until now, most of the empirical research has been either micro or macro based. In contrast, we conducted a complex analysis utilizing both aggregate and disaggregate price data. The macro approach is based on a Comparative Price Level index calculated as the ratio between PPPs and exchange rate. The disaggregate analysis utilizes the actual prices of almost 150 individual products sold in the 15 capital cities of the EU. We conducted sigma and beta convergence in the analysis of both datasets. There are several differences in results depending on whether the calculation was based on indices or actual prices. Additionally, the model is tested to measure the contribution of different factors in explaining the observed convergence pattern. Most of the explanatory power comes from the differences in GDP (or wages), exchange rate volatility and differences in taxes. The Euro effect when controlling for exchange rate volatility, is not significant.

Cytuj jako

Pełna treść

pełna treść publikacji nie jest dostępna w portalu

Słowa kluczowe

Informacje szczegółowe

Kategoria:
Publikacja w czasopiśmie
Typ:
artykuły w czasopismach recenzowanych i innych wydawnictwach ciągłych
Opublikowano w:
RED. ZAGR. ANGIELSKI nr 5, strony 25 - 47,
ISSN:
Język:
angielski
Rok wydania:
2008
Opis bibliograficzny:
Wolszczak-Derlacz J.: Price convergence in the EU-an aggregate and disaggregate approach// RED. ZAGR. ANGIELSKI. -Vol. 5., nr. nr 1-2 / July (2008), s.25-47
Weryfikacja:
Politechnika Gdańska

wyświetlono 11 razy

Publikacje, które mogą cię zainteresować

Meta Tagi