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Price convergence of peripheral European countries on the way to the EMU: A time series approach

Author

Listed:
  • Miriam Camarero

    (Departamento de EconomÎa, Campus del Riu Sec, Jaume I University, E-12080 CastellÕn, Spain Wharton School, University of Pennsylvania, Philadelphia, PA 19104, USA Facultad de Ciencas EconÕmicas y Empresariales, Departamento de Economi´a Aplicada II, Universidad de Valencia, Apartado Oficial 22006, E-46071 Valencia, Spain)

  • Vicente Esteve

    (Departamento de EconomÎa, Campus del Riu Sec, Jaume I University, E-12080 CastellÕn, Spain Wharton School, University of Pennsylvania, Philadelphia, PA 19104, USA Facultad de Ciencas EconÕmicas y Empresariales, Departamento de Economi´a Aplicada II, Universidad de Valencia, Apartado Oficial 22006, E-46071 Valencia, Spain)

  • Cecilio Tamarit

    (Departamento de EconomÎa, Campus del Riu Sec, Jaume I University, E-12080 CastellÕn, Spain Wharton School, University of Pennsylvania, Philadelphia, PA 19104, USA Facultad de Ciencas EconÕmicas y Empresariales, Departamento de Economi´a Aplicada II, Universidad de Valencia, Apartado Oficial 22006, E-46071 Valencia, Spain)

Abstract
This paper examines price and inflation convergence between three European countries (Italy, Spain and the U.K.) and a European average and, alternatively, between them and Germany from the beginning of the 80's.

Suggested Citation

  • Miriam Camarero & Vicente Esteve & Cecilio Tamarit, 2000. "Price convergence of peripheral European countries on the way to the EMU: A time series approach," Empirical Economics, Springer, vol. 25(1), pages 149-168.
    • Handle: RePEc:spr:empeco:v:25:y:2000:i:1:p:149-168
    Note: received: March 1997/final version received: May 1999
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    Citations

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    Cited by:

    1. Chien-Chiang Lee & Chun-Ping Chang, 2007. "Mean reversion of inflation rates in 19 OECD countries: Evidence from panel Lm unit root tests with structural breaks," Economics Bulletin, AccessEcon, vol. 3(23), pages 1-15.
    2. Salvador Gil-Pareja & Simón Sosvilla-Rivero, 2004. "Export Market Integration in the European Union," Journal of Applied Economics, Taylor & Francis Journals, vol. 7(2), pages 271-301, November.
    3. Bentzen, Jan & Smith, Valdemar, 2003. "Regional income convergence in the Scandinavian countries," Working Papers 03-20, University of Aarhus, Aarhus School of Business, Department of Economics.
    4. repec:ebl:ecbull:v:3:y:2007:i:23:p:1-15 is not listed on IDEAS
    5. Guerreiro, David & Mignon, Valérie, 2013. "On price convergence in Eurozone," Economic Modelling, Elsevier, vol. 34(C), pages 42-51.
    6. Salvador Gil-Pareja & Simon Sosvilla-Rivero, 2007. "Price convergence in the European car market," Applied Economics, Taylor & Francis Journals, vol. 40(2), pages 241-250.
    7. Bulir, Ales & Hurnik, Jaromir, 2006. "The Maastricht inflation criterion: How unpleasant is purgatory?," Economic Systems, Elsevier, vol. 30(4), pages 385-404, December.
    8. Juan Carlos Cuestas & Luis A. Gil-Alana & Karl Taylor, 2012. "Inflation convergence in Central and Eastern Europe with a view to adopting the euro," Working Papers 12-01, Asociación Española de Economía y Finanzas Internacionales.
    9. Georgios P. Kouretas & Mark E. Wohar, 2012. "The dynamics of inflation: a study of a large number of countries," Applied Economics, Taylor & Francis Journals, vol. 44(16), pages 2001-2026, June.
    10. Hiranya Nath & Kiril Tochkov, 2011. "Relative Inflation in the EU Accession Countries of Central and Eastern Europe," Working Papers 201105, Texas Christian University, Department of Economics.
    11. Tsong, Ching-Chuan & Lee, Cheng-Feng, 2011. "Asymmetric inflation dynamics: Evidence from quantile regression analysis," Journal of Macroeconomics, Elsevier, vol. 33(4), pages 668-680.
    12. Çiçek, Serkan & Akar, Cüneyt, 2013. "The asymmetry of inflation adjustment in Turkey," Economic Modelling, Elsevier, vol. 31(C), pages 104-118.
    13. Vicente Esteve & Simon Sosvilla-Rivero & Cecilio Tamarit, 2000. "Convergence in fiscal pressure across EU countries," Applied Economics Letters, Taylor & Francis Journals, vol. 7(2), pages 117-123.
    14. Krištić Irena Raguž & Dumančić Lucija Rogić, 2022. "Euro Area Product Market Integration," South East European Journal of Economics and Business, Sciendo, vol. 17(2), pages 142-153, December.
    15. Jan Bentzen & Tor Eriksson & Valdemar Smith, 2001. "Alcohol Consumption in European Countries Time series based tests of convergence," Cahiers d'Economie et Sociologie Rurales, INRA Department of Economics, vol. 60, pages 59-74.
    16. Robert Garnett & Lisa Vanderlinden, 2011. "Reflexive Pedagogy: Disciplinary Idioms as Resources for Teaching," Working Papers 201106, Texas Christian University, Department of Economics.
    17. Dixit, Avinash, 2001. "Games of monetary and fiscal interactions in the EMU," European Economic Review, Elsevier, vol. 45(4-6), pages 589-613, May.
    18. Rosa Maria Fanelli, 2018. "Have beer markets in European Union countries converged?," Economia agro-alimentare, FrancoAngeli Editore, vol. 20(3), pages 445-477.
    19. Bentzen, Jan, 2003. "An empirical analysis of gasoline price convergence for 20 OECD countries," Working Papers 03-19, University of Aarhus, Aarhus School of Business, Department of Economics.
    20. Consuelo Gámez Amián & Amalia Morales Zumaquero., 2002. "Complete or Partial Inflation Convergence in the EU?," Economic Working Papers at Centro de Estudios Andaluces E2002/09, Centro de Estudios Andaluces.
    21. Ales Bulir & Jaromir Hurnik, 2006. "The Maastricht Inflation Criterion: "Saints" and "Sinners"," Working Papers 2006/8, Czech National Bank.
    22. Lee, Chien-Chiang & Chang, Chun-Ping, 2009. "Stochastic convergence of per capita carbon dioxide emissions and multiple structural breaks in OECD countries," Economic Modelling, Elsevier, vol. 26(6), pages 1375-1381, November.
    23. Hiranya Nath & Kiril Tochkov, 2013. "Relative inflation dynamics in the new EU member countries of Central and Eastern Europe," Empirical Economics, Springer, vol. 45(1), pages 1-22, August.
    24. Maurer, Rainer, 2022. "Price levels in the European Monetary Union: Even tradables follow independent random walks," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 81(C).

    More about this item

    Keywords

    Nominal convergence; unit root; cointegration; time-varying parameters;
    All these keywords.

    JEL classification:

    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • F15 - International Economics - - Trade - - - Economic Integration

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