Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/81292
Authors: 
Andrén, Niclas
Oxelheim, Lars
Year of Publication: 
2006
Series/Report no.: 
IFN Working Paper 668
Abstract: 
We analyze producer price developments in the transition from a national exchange rate regime to a monetary union. The focus is on the European Economic and Monetary Union (EMU). Stylized facts witness about an exploding gaps in producer-price inflation during the years immediately following the completion of the EMU. Price convergence is found to be an important driver throughout the entire euro period (1999-2005), but with no significant differences in speed compared to the pre euro period. Productivity growth had its primary effect in the first years and effective exchange-rate changes in the later years of the euro period.
Subjects: 
Producer prices
Relative prices
Price convergence
Euro
Balassa-Samuelson
JEL: 
E31
E44
F15
F23
G34
Document Type: 
Working Paper

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