Product market integration in the Euro area (CROSBI ID 662443)
Prilog sa skupa u zborniku | izvorni znanstveni rad | međunarodna recenzija
Podaci o odgovornosti
Raguž Krištić, Irena ; Rogić Dumančić, Lucija
engleski
Product market integration in the Euro area
The goal of this paper is to determine if the euro area (EA) accession and membership had a significant impact on the product market integration in the EA countries. The paper employs LM and RALS-LM unit root tests with two breaks on the seasonally adjusted monthly Harmonized Index of Consumer Prices (HICP), from 1996:01 to 2017:05. We find EA-accession related breaks in most of the EA11 countries, but, apart from Malta, no such breaks for the later-EA- joiners. However, EA formation had a significant impact on both EA and non-EA countries at that time. We also find greater product market integration and less adverse effects after negative shocks in the EA member countries. However, based on unit root analysis, we find that EA membership is not a sufficient condition for product market integration and integration is not necessarily related to being an EA member.
prices, Euro area, stochastic convergence, unit root, structural breaks
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Podaci o prilogu
116-128.
2018.
objavljeno
Podaci o matičnoj publikaciji
Proceedings of 9th Interantional Conference: An Enterprise Odyssey: Managing Change to Achieve Quality Development
Načinović Braje, I. ; Jaković, B. ; Pavić, I.
Zagreb: Sveučilišna tiskara
978-953-346-056-7
Podaci o skupu
9th International Conference “An Enterprise Odyssey: Managing Change to Achieve Quality Development”
ostalo
23.05.2018-26.05.2018
Zagreb, Hrvatska