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Export Market Integration in the European Union

  • Salvador Gil-Pareja
  • Simón Sosvilla-Rivero

This paper examines the degree of export-price dispersion among European Union countries and its evolution in the recent past (1988-1999). The paper also explores the likely impact of the European Monetary Union on export-price convergence by looking at the past experience of European countries that participated in the exchange rate stability zone. The results indicate that export-price dispersion across European Union countries was usually lower than across OECD countries. Moreover, although there is little evidence of convergence, it is stronger across European Union countries. Finally, the results cast doubts on the hypothesis that the monetary union by itself will increase price convergence.

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Paper provided by FEDEA in its series Working Papers with number 2002-07.

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Handle: RePEc:fda:fdaddt:2002-07
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  8. Simón Sosvilla-Rivero & Salvador Gil-Pareja, . "Price Convergence in the European Union," Working Papers 2002-12, FEDEA.
  9. Alain de Serres & Peter Hoeller & Christine de la Maisonneuve, 2001. "The Width of the Intra-European Economic Borders," OECD Economics Department Working Papers 304, OECD Publishing.
  10. Camarero, M. & Esteve, V. & Tamarit, C., 1996. "Price Convergence of Periphical European Countries on the Way to the EMU: A Time Series Approach," Weiss Center Working Papers 96-2, Wharton School - Weiss Center for International Financial Research.
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  12. Gil-Pareja, Salvador, 2002. "Export Price Discrimination in Europe and Exchange Rates," Review of International Economics, Wiley Blackwell, vol. 10(2), pages 299-312, May.
  13. Goldberg, Pinelopi & Verboven, Frank, 2001. "Market Integration and Convergence to the Law of One Price: Evidence from the European Car Market," CEPR Discussion Papers 2926, C.E.P.R. Discussion Papers.
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  16. Fernandez-Rodriguez, Fernando & Sosvilla-Rivero, Simon & Andrada-Felix, Julian, 1999. "Exchange-rate forecasts with simultaneous nearest-neighbour methods: evidence from the EMS," International Journal of Forecasting, Elsevier, vol. 15(4), pages 383-392, October.
  17. Saul Lach, 2002. "Existence and Persistence of Price Dispersion: an Empirical Analysis," NBER Working Papers 8737, National Bureau of Economic Research, Inc.
  18. Mario J. Crucini & Chris I. Telmer & Marios Zachariadis, 2000. "Dispersion in Real Exchange Rates," Vanderbilt University Department of Economics Working Papers 0013, Vanderbilt University Department of Economics.
  19. John H. Rogers, 2001. "Price level convergence, relative prices, and inflation in Europe," International Finance Discussion Papers 699, Board of Governors of the Federal Reserve System (U.S.).
  20. Hafer, R W & Kutan, A M, 1994. "A Long-Run View of German Dominance and the Degree of Policy Convergence in the EMS," Economic Inquiry, Western Economic Association International, vol. 32(4), pages 684-95, October.
  21. Maurice Obstfeld, 1986. "International Finance," NBER Working Papers 2077, National Bureau of Economic Research, Inc.
  22. Mark Holmes, 1998. "Inflation Convergence in the ERM: Evidence for Manufacturing and Services," International Economic Journal, Taylor & Francis Journals, vol. 12(3), pages 1-16.
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