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The Effect of the Euro Changeover on Prices: Evidence from Lithuania

Valentin Jouvanceau

No 93, Bank of Lithuania Working Paper Series from Bank of Lithuania

Abstract: At the aggregate level, I find that the euro changeover did not lead to a significant change in the overall inflation rate between 2015 and 2019 in Lithuania. When the measures are diversified, however, some inflationary effects emerge in sub-categories. I therefore analyze this heterogeneity at the disaggregated level using a large sample of prices that constitutes the CPI from 2010 to 2018. I show that significant price changes have been confined to the low-weighted components of the HICP. This explains why a spike in the overall price level did not occur at the time of the changeover.

Keywords: Euro changeover; synthetic difference-in-differences; regression discontinuity in time; price changes. (search for similar items in EconPapers)
JEL-codes: E31 F33 L11 (search for similar items in EconPapers)
Pages: 59 pages
Date: 2021-10-12
New Economics Papers: this item is included in nep-cis, nep-eec, nep-mac, nep-mon and nep-tra
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