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Les prix automobile dans l’Union européenne : y a-t-il eu convergence depuis 1993 ?

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  • Séverine Haller
  • Guillaume Gaulier

Abstract

[eng] This paper analyses movements in automobile-price differentials between European Union countries from 1993 to 1999. Microeconomic data for selling prices of the principal models are used to construct price series for countries using an econometric hedonic-price model. It is shown that, since the introduction of the Single Market, there has been no convergence (sigma convergence, i. e., reduction in dispersion) of the pre-tax prices applied in the various countries of the Union. However, there is a convergence mechanism operating (beta convergence), but this has not been translated into a reduction in price differentials, mainly because of currency fluctuations. Taxation varies widely from one country to another and has a considerable impact on the dispersion of pre-tax prices. The disappearance of currency fluctuations between countries belonging to the euro zone should make it possible for arbitrage mechanisms to play their full role and lead to a genuine reduction in price differentials. [fre] Ce travail analyse la dynamique des écarts de prix entre pays de l’Union Européenne sur le marché automobile entre 1993 et 1999. Des données microéconomiques sur les prix de vente des principaux modèles sont utilisées pour construire des séries de prix par pays à l’aide d’un modèle économétrique de prix hédoniques. On montre que, depuis la mise en oeuvre du Marché unique, il n’y a pas eu de convergence (sigma convergence, c’est à dire réduction de la dispersion) des prix hors taxes pratiqués dans les différents pays de l’Union. Un mécanisme de convergence (beta convergence) est pourtant bien à l’oeuvre, mais ne se traduit pas par la réduction des écarts de prix principalement en raison des fluctuations monétaires. La fiscalité, très variable d’un pays à l’autre, exerce un impact considérable sur la dispersion des prix hors taxe. La disparition des fluctuations monétaires entre les pays de la zone Euro devrait permettre aux mécanismes d’arbitrage de jouer pleinement leur rôle et conduire à une réelle réduction des écarts de prix.

Suggested Citation

  • Séverine Haller & Guillaume Gaulier, 2003. "Les prix automobile dans l’Union européenne : y a-t-il eu convergence depuis 1993 ?," Économie et Prévision, Programme National Persée, vol. 157(1), pages 83-96.
    • Handle: RePEc:prs:ecoprv:ecop_0249-4744_2003_num_157_1_6894
    DOI: 10.3406/ecop.2003.6894
    Note: DOI:10.3406/ecop.2003.6894
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