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Price convergence in the European car market
[journal article]
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 ... view more
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.... view less
Keywords
Euro
Classification
Economic Sectors
Political Economy
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
https://doi.org/10.1080/00036840600749847
Status
Postprint; peer reviewed
Licence
PEER Licence Agreement (applicable only to documents from PEER project)