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El impacto de la puesta en circulación del euro sobre los precios de consumo

Author

Listed:
  • Luis J. Álvarez

    (Banco de España)

  • Pilar Cuadrado Salinas

    (Banco de España)

  • Javier Jareño

    (Banco de España)

  • Isabel Sánchez García

    (Banco de España)

Abstract

The introduction of euro banknotes and coins in Spain on January 2002 led to the conversion into euros of peseta denominated prices. The changeover should have been neutral with respect to price levels, although some factors, such as menu costs, overhead costs or use of attractive prices, led to an upward impact on prices and a transitory increase in inflation. This paper analyses the changeover using available information on consumer prices. It is found that the inflationary impact of the introduction of the euro was limited, transitory and smaller than perceived by consumers.

Suggested Citation

  • Luis J. Álvarez & Pilar Cuadrado Salinas & Javier Jareño & Isabel Sánchez García, 2004. "El impacto de la puesta en circulación del euro sobre los precios de consumo," Occasional Papers 0404, Banco de España.
    • Handle: RePEc:bde:opaper:0404
    as

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    File URL: http://www.bde.es/f/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosOcasionales/04/Fic/do0404.pdf
    File Function: First Spanish version, August 2004
    Download Restriction: no
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    Citations

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    Cited by:

    1. Paolo Giovane & Roberto Sabbatini, 2008. "Perceived and measured inflation after the launch of the euro: explaining the gap in Italy," Springer Books, in: Paolo Giovane & Roberto Sabbatini (ed.), The Euro, Inflation and Consumer’s Perceptions, chapter 1, pages 13-49, Springer.
    2. Tomasz Łyziak, 2009. "Is Inflation Perceived by Polish Consumers Driven by Prices of Frequently Bought Goods and Services?," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 51(1), pages 100-117, March.

    More about this item

    Keywords

    Euro cash changeover; perceived inflation; attractive prices;
    All these keywords.

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • D40 - Microeconomics - - Market Structure, Pricing, and Design - - - General

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