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The transition from national currencies to the Euro

Charles Goodhart and Evi Pappa ()

LSE Research Online Documents on Economics from London School of Economics and Political Science, LSE Library

Abstract: We initiated a survey to examine whether the transition from national currencies to the Euro involved significant increases in transaction times. Based on our sample of 42 observations, we found that the pure transaction time for making change did actually increase, while queuing time increased only in small shops. This increase in transaction time represented a more significant welfare loss than most estimated studies of shoe-leather cost have previously found.

Keywords: Transaction time; transition to the euro; welfare costs. JEL classification codes : E52 (search for similar items in EconPapers)
JEL-codes: E52 (search for similar items in EconPapers)
Date: 2003-04
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Published in Economics Letters, April, 2003, 79(1), pp. 83-88. ISSN: 0165-1765

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