Smooth Euro Changeover, Higher Prices? Results of a Survey Among Dutch Retailers
Abstract
The Dutch changeover to euro banknotes and coins proceeded both remarkably smoothly and rapidly. After one week, over 90% of all cash payments were being made in euro. Fears of the payment system breaking down, always rampant among businesses and the public alike, did not materialise. Fears of price rises on the other hand, were not entirely unfounded, as evidenced by a survey held by the Bank among retailers in January. The changeover from guilders to euro has pushed consumer prices up by 0.2-0.4%, in part because retailers passed the ensuing costs on to their customers, but also because prices were rounded up towards attractive euro prices. In time, the introduction of the euro willpresumably lead to lower prices.Download Info
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Paper provided by Netherlands Central Bank, Research Department in its series WO Research Memoranda (discontinued) with number 682.Length:
Date of creation: 2002
Date of revision:
Handle: RePEc:dnb:wormem:682
Contact details of provider:
Postal: Postbus 98, 1000 AB Amsterdam
Web page: http://www.dnb.nl/en/
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Related research
Keywords: Euro cash-changeover; survey; price impact of cash-changeover;Find related papers by JEL classification:
- E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
This paper has been announced in the following NEP Reports:
- NEP-ALL-2003-06-16 (All new papers)
- NEP-EEC-2003-06-16 (European Economics)
- NEP-MON-2003-06-16 (Monetary Economics)
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Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.Cited by:
- Marco Hoeberichts & Ad Stokman, 2005.
"Price Setting Behaviour in the Netherlands: Results of a Survey,"
DNB Working Papers
073, Netherlands Central Bank, Research Department.
- Marco Hoeberichts & Ad Stokman, 2010. "Price setting behaviour in the Netherlands: results of a survey," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 31(2-3), pages 135-149.
- Marco Hoeberichts & Ad Stokman, 2006. "Price setting behaviour in the Netherlands - results of a survey," Working Paper Series 607, European Central Bank.
- Patrick Lünnemann & Thomas Mathä, 2005.
"Consumer price behaviour in Luxembourg: evidence from micro CPI data,"
BCL working papers
17, Central Bank of Luxembourg.
- Patrick Lünnemann & Thomas Y. Mathä, 2005. "Consumer price behaviour in Luxembourg - evidence from micro CPI data," Working Paper Series 541, European Central Bank.
- Marco G Ercolani, 2009.
"Transitional Price Rises with the Adoption of the Euro: Aggregate and Disaggregate Sector Evidence,"
Discussion Papers
09-18, Department of Economics, University of Birmingham.
- Marco Ercolani, 2010. "Transitional price rises with the adoption of the euro: aggregate and disaggregate sector evidence," Journal of Policy Reform, Taylor and Francis Journals, vol. 13(2), pages 137-157.
- Marco Ercolani, 2010. "Transitional price rises with the adoption of the euro: aggregate and disaggregate sector evidence," Journal of Economic Policy Reform, Taylor and Francis Journals, vol. 13(2), pages 137-157.
- Michael Ehrmann, 2006. "Rational inattention, inflation developments and perceptions after the euro cash changeover," Working Paper Series 588, European Central Bank.
- Thomas A. Eife, 2006. "Price setting behaviour and price setting regulations at the euro changeover," Bank of Estonia Working Papers 2006-06, Bank of Estonia, revised 12 Oct 2006.
- Michael Ehrmann, 2011. "Inflation Developments and Perceptions after the Euro Cash Changeover," German Economic Review, Verein für Socialpolitik, vol. 12(1), pages 33-58, 02.
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