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.

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.
The Economic Impact of Public Support to Agriculture: An International Perspective
273
289
L. Gutierrez; C. Brasili; R. Fanfani
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Utilizza questo identificativo per citare o creare un link a questo documento: http://hdl.handle.net/11585/109333
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