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Fünfzig Jahre nach Rom: Ist die EU ein Binnenmarkt?

Author

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  • Langhammer Rolf J.

    (Institut für Weltwirtschaft, Düsternbrooker Weg 120, 24105 Kiel)

Abstract

Fifty years after the Rome Treaties, is there empirical evidence for arguing that the EU today is a fully integrated goods and services market in which the “law of one price” prevails at large? Based on a number of consumer price surveys for goods and services in major cities all over the world since the seventies and, comparing the EU to a benchmark, the US market, the paper is affirmative. Price dispersion between EU cities has declined with the Eurozone as the core EU region in the lead surrounded by two concentric circles. EU goods price dispersion has generally approximated the level in the US market. Yet, price dispersion has declined throughout the world underlining the relevance of global integration rather than only regional integration. Furthermore, there is ample evidence that gravity factors against the “law of one price”, such as distance costs and borders, are still effective.

Suggested Citation

  • Langhammer Rolf J., 2007. "Fünfzig Jahre nach Rom: Ist die EU ein Binnenmarkt?," Zeitschrift für Wirtschaftspolitik, De Gruyter, vol. 56(3), pages 326-338, December.
    • Handle: RePEc:lus:zwipol:v:56:y:2007:i:3:p:326-338:n:5
    DOI: 10.1515/zfwp-2007-0305
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