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Price convergence in the European car market

[journal article]

Gil-Pareja, Salvador Antonio; Sosvilla-Rivero, Simón

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Please use the following Persistent Identifier (PID) to cite this document:http://nbn-resolving.de/urn:nbn:de:0168-ssoar-240524

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Abstract This paper examines price convergence in the European Union car market over the period 1995-2005. We find that there is a clear evidence of price convergence among the EU15 countries, but not before 1999. Moreover, countries of the Economic and Monetary Union (EMU) started convergence previously to the EU15 as a whole. Finally, exchange rate changes have significantly contributed to price dispersion over time across countries. The results provide significant evidence that trade liberalization and the EMU have enhanced the process of regional integration in the European automobile industry, even though there is room for further measures to promote integration.
Keywords Euro
Classification Political Economy; Economic Sectors
Free Keywords Market integration; Automobiles; European Union; Exchange rates
Document language English
Publication Year 2008
Page/Pages p. 241-250
Journal Applied Economics, 40 (2008) 2
DOI http://dx.doi.org/10.1080/00036840600749847
Status Postprint; peer reviewed
Licence PEER Licence Agreement (applicable only to documents from PEER project)