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Memory for prices and the euro cash changeover: an analysis for cinema prices in Italy

In: The Euro, Inflation and Consumer’s Perceptions

Author

Listed:
  • Vincenzo Cestari

    (Lumsa University)

  • Paolo Giovane

    (Bank of Italy)

  • Clelia Rossi-Arnaud

    (University of Rome “La Sapienza”)

Abstract

The lively debate in the post-changeover period shows that consumers have strong opinions on inflation. In principle, this implies that they should be able to calculate, at least roughly, the rate of change in the prices of the wide range of goods and services included in the official index, given that inflation is the rate of change of these prices between two moments in time. To do so, however, they need to remember the past prices of these products. Even considering the individual’s personal experience of inflation, rather than the average inflation in a country, consumers should at least be able to remember the past prices of the products that make up their personal consumption basket. The question addressed by this study is whether they actually can.

Suggested Citation

  • Vincenzo Cestari & Paolo Giovane & Clelia Rossi-Arnaud, 2008. "Memory for prices and the euro cash changeover: an analysis for cinema prices in Italy," Springer Books, in: Paolo Giovane & Roberto Sabbatini (ed.), The Euro, Inflation and Consumer’s Perceptions, chapter 5, pages 125-155, Springer.
    • Handle: RePEc:spr:sprchp:978-3-540-78370-1_6
    DOI: 10.1007/978-3-540-78370-1_6
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    Cited by:

    1. van der Cruijsen, Carin A.B. & Eijffinger, Sylvester C.W. & Hoogduin, Lex H., 2010. "Optimal central bank transparency," Journal of International Money and Finance, Elsevier, vol. 29(8), pages 1482-1507, December.
    2. Antonio Filippin & Luca Nunziata, 2019. "Monetary effects of inequality: lessons from the euro experiment," The Journal of Economic Inequality, Springer;Society for the Study of Economic Inequality, vol. 17(2), pages 99-124, June.

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