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Does one currency mean one price? An analysis of the euro effect on price dispersion and convergence
PublikacjaThis paper examines price differentials in the European Union to investigate whether the European Monetary Union has lowered the degree of price dispersion in the euro zone and increased the speed of price convergence. Both euro effects are evaluated using difference-in-difference methodology. Applied to the issue of introducing a single currency, the euro effects identified are the estimated differences in price dispersion and...
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Price convergence in the European Union and in the new member states
PublikacjaThis paper examines price dispersion in the European Union (EU15) and in three New Member States (Poland, Hungary and the Czech Republic) between 1995 and 2006. The analysis utilizes both disaggregate and aggregate price data, including the prices of 157 products and two indices constructed using two different weighting procedures. For each category of goods the price dispersion is lower in EU15 than EU15 plus 3 NMS. Sigma convergence...
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Does one currency mean one price?
PublikacjaEuropean 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...
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One Europe, one product, two prices - the price disparity in the EU
PublikacjaThe price dispersion in the European Union in the last fifteen years (1990-2005) is analysed. The analysis of price convergence is examined on aggregate and disaggregate levels. The macro approach is based on Comparative Price Level index calculated as the ratio between PPPs and exchange rate. The disaggregate analysis utilizesactual prices of 148 individual products sold in the 15 capital cities of the EU. The calculations comprise...
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Price convergence in the EU-an aggregate and disaggregate approach
PublikacjaThis 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...
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Statistics 2022_23
Kursy Online1.Elements of probability. The axioms of the probability theory 2. Random variables and their distributions. Discrete and continuous random variables 3. Parameters of random variables: expected value, moments 4. Selected distributions of random variables (Bernoulli, Poison, Gaussian) 5.The distribution in the sample. Visualisation by histograms 6. Measures of statistical location: arithmetic mean, median, quantiles. 7. Measures...