We analyze the behaviour of relative food prices for a set of 24 European countries observed during the period 1996.1 - 2007.12. We use recent methods for the analysis of nonstationary panels to show that food prices dynamics can be decomposed into a common component and an idiosyncratic component. From this decomposition we compute and analyze the real exchange rates for a set of food products. We find that countries included in the euro-area are more market integrated, i.e. real exchange rates tend to converge, than countries that did not adopt euro.
L. Gutierrez, C. Brasili, R. Fanfani (2010). The Behavior of Relative Food Prices: An Analysis across the European Countries. NEW YORK : Springer [10.1007/978-1-4419-6385-7_14].
The Behavior of Relative Food Prices: An Analysis across the European Countries
GUTIERREZ, LUCIANO;BRASILI, CRISTINA;FANFANI, ROBERTO
2010
Abstract
We analyze the behaviour of relative food prices for a set of 24 European countries observed during the period 1996.1 - 2007.12. We use recent methods for the analysis of nonstationary panels to show that food prices dynamics can be decomposed into a common component and an idiosyncratic component. From this decomposition we compute and analyze the real exchange rates for a set of food products. We find that countries included in the euro-area are more market integrated, i.e. real exchange rates tend to converge, than countries that did not adopt euro.I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
