CENTRE FOR EMEA BANKING, FINANCE & ECONOMICS The Euro Changeover and Price Adjustments in Italy
نویسندگان
چکیده
By estimating a staggered price model over the period 1980q1-2010q2, this paper documents that, after the euro changeover, Italian retailers have increased the number of price adjustments, which has translated into a higher inflation rate, with a detrimental effect on the competitiveness of the Italian economy.
منابع مشابه
The Euro Changeover and Price Adjustments in Italy
By estimating a staggered price model over the period 1980q1-2010q2, this paper documents that, after the euro changeover, Italian retailers have increased the number of price adjustments, which has translated into a higher inflation rate, with a detrimental effect on the competitiveness of the Italian economy.
متن کاملCurrency Reform in Turkey and Lessons from Re-Denomination and Euro Changeover
Re-denomination was not only a zero dropping and new coin minting operation but also a significant milestone in Turkey. Before the currency reform, multiple zeros had posed several difficulties in expressing monetary values, transactions, bookkeeping and statistical records, data processing software, payment systems, price labels etc. So, removing six zeros from national currency became a ...
متن کاملThe Effects of the Euro-Conversion on Prices and Price Perceptions by
Despite the expectations of economists that the euro changeover would have no effect on prices, I show that European consumers perceive the contrary. The data indicate that consumers based their perceptions about inflation on goods that are frequently purchased. I use this insight to develop and estimate a model of imperfect information that explains why these goods were subject to higher price...
متن کاملCentre for Emea Banking, Finance & Economics Persistence and Cyclical Dependence in the Monthly Euribor Rate
This paper analyses two well-known features of interest rates, namely their time dependence and their cyclical structure. Specifically, it focuses on the monthly Euribor rate, using monthly data from January 1994 to May 2011. Models based on fractional integration at the long run or zero frequency, although adequately describing the persistent behaviour of the series, do not take into account i...
متن کاملThe Inflationary Consequences of a Currency Changeover on the Catering Sector: Evidence from the Michelin Red Guide
This paper examines the in ationary consequences of a currency changeover in the catering market. Empirical evidence from the Michelin Red Guide shows that: i) di erently from restaurants in non-euro countries, restaurants in the euro area experienced abnormal price increases just after the changeover, ii) among restaurants in the euro area, tourist restaurants are responsible for most of the a...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
عنوان ژورنال:
دوره شماره
صفحات -
تاریخ انتشار 2011