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Competition, the Lisbon Strategy and the Euro

Anindya Banerjee () and Bill Russell ()

No ECO2004/32, Economics Working Papers from European University Institute

Abstract: This paper considers whether the Euro-area economies have become more competitive since the introduction of the Euro and the implementation of the Lisbon strategy. Using a measure of the markup as a proxy for competition we show that while the markup has varied considerably over the past 25 years and declined recently, most of this variation can be explained by movements in inflation and the business cycle. Consequently, based on our data, we find little evidence of a pro-competitive impact of the introduction of the Euro and implementation of the Lisbon strategy.

Keywords: Inflation; markup; business cycle; competition; Lisbon strategy; Euro (search for similar items in EconPapers)
JEL-codes: C22 C32 C52 D40 E31 E32 (search for similar items in EconPapers)
Date: 2004
New Economics Papers: this item is included in nep-eec, nep-mac and nep-mon
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