The welfare impact of Euro on European consumers

Ermanno Affuso, Jan Buleca, Dengjun Zhang and Martin Zoricak

Finance Research Letters, 2023, vol. 56, issue C

Abstract: This research uses a Quadratic Almost Ideal Demand System, combined with a Difference-in-Differences model with time-varying staggered treatments, to assess the impact of the European common currency on consumers’ welfare. Based on a panel of 29 European Union member countries from 1996 to 2022, results indicate that consumers in the Eurozone lost between 1.13% and 2.26% in annual per capita consumer welfare after adopting the euro.

Keywords: Consumer welfare; Demand analysis; Difference-in-differences; Euro; Monetary union (search for similar items in EconPapers)
JEL-codes: C30 C51 D12 E49 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:56:y:2023:i:c:s1544612323005135

DOI: 10.1016/j.frl.2023.104141

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