Price Convergence to the EU: Some Evidence for the Czech Republic

Richard Pospisil () and Jarmila Koudelkova ()
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Richard Pospisil: Associate Professor, Ph.D. Palacky University of Olomouc
Jarmila Koudelkova: Ph.D. Candidade Mendel University in Brno

Global Economic Observer, 2016, vol. 4, issue 2, 32-38

Abstract: The question of price convergence is highly topical especially before entry of a member state of EU into the Eurozone. Price convergence, respectively price stability is one of the Maastricht convergence criteria, whose fulfillment is exposed to a number of factors and wide issues of fiscal and monetary character. Reporting of price convergence and price stability is influenced by the composition of the consumer basket and the level of consumption. Some of the commodities in the Czech Republic have a higher price level than in the EU and vice versa. The rate and pace of price convergence are then directly influenced by the pace of economic growth and development of the exchange rate of the national currency against the euro. This paper deals with the main aspects of price convergence in the Czech Republic and analyzes the major influences acting on it and its future development

Keywords: price; price level; inflation; central bank; the Czech Republic (search for similar items in EconPapers)
JEL-codes: E (search for similar items in EconPapers)
Date: 2016-11
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Persistent link: https://EconPapers.repec.org/RePEc:ntu:ntugeo:vol4-iss2-16-032

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