Working Paper
The Euro Changeover and Price Adjustments in Italy
Guglielmo Maria Caporale, Alessandro Girardi, Marco Ventura
CESifo, Munich, 2011
CESifo Working Paper No. 3386
CESifo, Munich, 2011
CESifo Working Paper No. 3386
By estimating a staggered price model over the period 1980q1-2010q2, this paper documents that, after the euro changeover, Italian retailers have increased the number of price adjustments, which has translated into a higher inflation rate, with a detrimental effect on the competitiveness of the Italian economy
CESifo Category
Monetary Policy and International Finance
Empirical and Theoretical Methods
Monetary Policy and International Finance
Empirical and Theoretical Methods
Keywords: Euro changeover, staggered price adjustments, inflation
JEL Classification: C220, E310