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Product market integration in the Euro area

Irena Raguž Krištić ; Faculty of Economics and Business, University of Zagreb, Zagreb, Croatia
Lucija Rogić Dumančić   ORCID icon orcid.org/0000-0002-7963-4166 ; Faculty of Economics and Business, University of Zagreb, Zagreb, Croatia

Puni tekst: engleski, pdf (686 KB) str. 1-16 preuzimanja: 42* citiraj
APA 6th Edition
Raguž Krištić, I. i Rogić Dumančić, L. (2018). Product market integration in the Euro area. EFZG working paper series, (04), 1-16. Preuzeto s https://hrcak.srce.hr/203782
MLA 8th Edition
Raguž Krištić, Irena i Lucija Rogić Dumančić. "Product market integration in the Euro area." EFZG working paper series, vol. , br. 04, 2018, str. 1-16. https://hrcak.srce.hr/203782. Citirano 14.10.2019.
Chicago 17th Edition
Raguž Krištić, Irena i Lucija Rogić Dumančić. "Product market integration in the Euro area." EFZG working paper series , br. 04 (2018): 1-16. https://hrcak.srce.hr/203782
Harvard
Raguž Krištić, I., i Rogić Dumančić, L. (2018). 'Product market integration in the Euro area', EFZG working paper series, (04), str. 1-16. Preuzeto s: https://hrcak.srce.hr/203782 (Datum pristupa: 14.10.2019.)
Vancouver
Raguž Krištić I, Rogić Dumančić L. Product market integration in the Euro area. EFZG working paper series [Internet]. 2018 [pristupljeno 14.10.2019.];(04):1-16. Dostupno na: https://hrcak.srce.hr/203782
IEEE
I. Raguž Krištić i L. Rogić Dumančić, "Product market integration in the Euro area", EFZG working paper series, vol., br. 04, str. 1-16, 2018. [Online]. Dostupno na: https://hrcak.srce.hr/203782. [Citirano: 14.10.2019.]

Sažetak
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 in not a sufficient condition for product market integration and integration is not necessarily related to being an EA member.

Ključne riječi
prices; Euro area; stochastic convergence; unit root; structural breaks

Hrčak ID: 203782

URI
https://hrcak.srce.hr/203782

Posjeta: 83 *