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The Euro-changeoverand Euro-inflation: Evidence from Eurostat's HICP Author info | Abstract | Publisher info | Download info | Related research | Statistics Marco G. Ercolani and Jayasri Dutta
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Though anecdotal evidence suggests that retail price inflation increased temporarily in January 2002 when Euro notes and coins were introduced, the evidence from official statistics largely refutes this. We test for the presence of a sudden temporary increase in inflation for Euro-changeover countries. We use the countries that did not join the Euro: Denmark, Sweden and the UK; as a control group. Though the results are sensitive to the estimation method, we do uncover weak evidence of a minor increase in aggregate inflation in January 2002 for the countries that did join the Euro. Similar tests for the Restaurant sector find a strong Euro-changeover effect on temporary inflation. Summary tests for 129 other price sub-categories are also discussed.
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Paper provided by Department of Economics, University of Birmingham in its series Discussion Papers with number
06-03.
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Length: 53 pages
Date of creation: Feb 2006Date of revision:
Handle: RePEc:bir:birmec:06-03Contact details of provider: Postal: Edgbaston, Birmingham, B15 2TT Web page: http://www.economics.bham.ac.uk More information through EDIRC
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Keywords: Find related papers by JEL classification: D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis D40 - Microeconomics - - Market Structure and Pricing - - - General D84 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Expectations; Speculations E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy E63 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization L89 - Industrial Organization - - Industry Studies: Services - - - Other
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