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Der Einfluss der Euro-Einführung auf die Preisentwicklung bei frischen Lebensmitteln in Deutschland
Glauben, Thomas | Loy, Jens-Peter | Körner, Julia
Journal of Contextual Economics – Schmollers Jahrbuch, Vol. 127 (2007), Iss. 3 : pp. 457–485
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Glauben, Thomas
Loy, Jens-Peter
Körner, Julia
Abstract
The paper investigates the impact of the Euro-introduction on real price adjustments in German food retail stores. While other studies focus on rounding effects of the Euro to obtain attractive price, it is hypothesized here that both money illusion and menu costs rnight have lead to higher real prices after the Euro-introduction. Most studies focus on the behaviour of average prices. In this study price, adjustments in several store types are investigated. An autoregressive error correction approach is used to test for structural breaks in the long run price equilibrium. Weekly retail and wholesale prices for meats, fruits, and vegetables in the period from January 1998 until May 2003 are used. Only in a few cases real price increases were found; mostly real prices did not change significantly or did decrease.