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2006 | nr 1 Financial markets : principles of modeling forecasting and decision-making | 273--288
Tytuł artykułu

Europe of One Price?

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Treść / Zawartość
Warianty tytułu
Języki publikacji
EN
Abstrakty
EN
Chapter 18 aims to assess the idea of price convergence in Europe. The analysis is based on price level conditional convergence. The methodology originates from the neoclassical Solow model of economic growth while the study is focused on the question whether prices can equalize among the European countries. The study gives insights into the speed with which the equilibrium prices will be achieved. (fragment of text)
Twórcy
  • University of Lodz, Poland, student
Bibliografia
  • Ahlgren N., Juselius M., Siliverstovs B. (2004), "Price Convergence and the Inflation Process in Transition Economies. With Application to the Baltic States", Mimeo, Presented at Economic, Econometric and Cross-Disciplinary Aspects of European Union Enlargement conference EUI on May 13th-15th, Florence, Available at: www.iue.it/ECO/Conferences/accession countries/papers/EUIconferenceMay2004 paperAhlgren.pdf
  • Angeloni I., Ehrmann M. (2004), "Euro Area Inflation Differentioals", ECB Working Paper, 388.
  • Balassa B. (1964), "The Purchasing-Power Parity Doctrine: A Reappraisal", Journal of Political Economy, 72, 584-596.
  • Barro R. J., Sala-i-Martin X. (1995), Economic Growth, New York: McGraw-Hill.
  • Baumol W. J., Bowen W. G. (1965), "On the Performing Arts: The Anatomy of Their Economic Problems", The American Economic Review, 55(1/2), 495-502.
  • Beck G. W., Weber A. A. (2003), Inflation Rate Dispersion and Convergence in Monetary and Economic Unions: Lessons for the ECB, Mimeo.
  • Cecchetti S. G., Mark N. C., Sonora R. J. (2000), "Price Level Convergence among United States Cities: Lessons for the European Central Bank", NBER Working Paper, 7681, Available at http://papers.nber.org/papers/w7681.v5.pdf
  • Coleman A., Daglish T. (1998), "Regional Price Convergence in Australia and New Zealand. 1984-1996", Treasury Working Paper, 3.
  • Crucini M. J., Shintani M. (2002), "Persistence in Law-of-One-Price Deviations: Evidence From Micro-Price Data", Technical Report, www.najecon.org, Available at http://ide-as.repec.0rg/p/cla/najeco/506439000000000019.html.
  • De la Fuente A. (2002), Convergence Across Countries and Regions: Theory and Empirics, Mimeo.
  • Dornbusch R. (1987), Purchasing Power Parity, New York: Stockton Press.
  • Egert B. (2002), "Investigating the Balassa-Samuelson Hypothesis in Transition: Do We Understand What We See?", BO FIT Discussion Papers, 6, 1-38.
  • Froot K. A., Rogoff K. (1994), "Perspectives on PPP and Long-Run Real Exchange Rate", NBER Working Paper, Prepared for Grossman G., Kenneth R. (eds.), Handbook of International Economics, Vol. 3, Amsterdam: North-Holland, 1-54.
  • Isard P. (1977), "How Far Can We Push the Law of One Price?", The American Economic Review, 67(5), 942-948.
  • Islam N. (1998), Convergence: Variation in Concept and Empirical Results, mimeo, 1-60.
  • Kravis I. B., Lipsey R. E. (1983), 'Toward an Explanation of National Price Levels", Princeton Studies in International Finance, 52.
  • Kravis I. B. Lipsey R. E. (1988), "The Assessment of National Price Levels", NBER Working Paper, 1912.
  • Lan Y. (2001), "The Explosion of Purchasing Power Parity", Discussion Paper, 01-22, 1-40.
  • Levin A., Lin C.-F. (1992), "Unit Root Tests in Panel Data: Asymptotic and Finite-Sample Properties", Discussion Paper, 92-23, 1-66.
  • Levin A., Lin C.-F. (1993), "Unit Root Tests in Panel Data: New Results", Discussion Paper, 93-56, 1-38.
  • Lipsey R. E., Kravis I. B. (1988), "National Price Levels and the Prices of Tradables and Nontradables", NBER Working Paper, W2536.
  • Manzur M. (1993), Exchange Rates, Prices and World Trade: New Methods, Evidence, and Implications, London, New York: Routledge.
  • Miller M. H., Upton C. W. (1986), Macroeconomics: A Neoclassical Introduction, Chicago: The University of Chicago Press.
  • Obstfeld M., Rogoff K. (1996), Fundations of International Macroeconomics, Cambridge: MIT Press.
  • Pearce D. W. (ed.) (1999), The MIT Dictionary of Modern Economics, 4th ed., Cambridge: MIT Press.
  • Rogers J. H. (2001), "Price Level Convergence, Relative Prices, and Inflation in Europe", International Finance Discussion Paper, 699.
  • Rogers J. H. Hufbauer G. C., Wada E. (2001), "Price Level Convergence and Inflation in Europe, Working Paper, 01-1.
  • Rogoff K. (1996), "The Purchasing Power Parity Puzzle", Journal of Economic Literature, 34, 647-668.
  • Samuelson P. A. (1964), 'Theoretical Notes on Trade Problems", Review of Economics and Statistics, 46, 145-154.
  • Sarno L., Taylor M. (2002), "Purchasing Power Parity and the Real Exchange Rate", International Monetary Fund Staff Papers, 49(1), 65-105.
  • The Impact of Monetary Union on Pricing (2000), Available at IBEC website on 17th February 2005.
  • Wolszczak-Derlacz J. (2004), "One Europe, One Product, Two Prices - The Price Disparity in the EU", Paper presented on 3rd Annual Meeting of the EEFS Gdansk.
  • Zussman A. (2001), "A Purchasing Power Parity Paradox", Stanford Institute for Economic Policy Research Discussion Paper, 01-25, 1-26.
Typ dokumentu
Bibliografia
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