Does One Currency Mean One Price?

Joanna Wolszczak-Derlacz

Eastern European Economics, 2010, vol. 48, issue 2, 87-114

Abstract: This 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 convergence rates pre- and posteuro between euro and noneuro groups of countries. An analysis of 144 products' price differentials does not support the hypothesis of a long-term euro effect.

Date: 2010
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