Dutch paper explores price level dispersion
‘Idiosyncratic shocks’ have bigger impact within Europe, authors say
After the financial crisis, "idiosyncratic shocks" such as recession and the European debt crisis had a larger impact on price level dispersion across Europe than in the US, a working paper published by The Netherlands Bank suggests.
In Price level convergence within the euro area: How Europe caught up with the US and lost terrain again, Marco Hoeberichts and Ad Stokman analyse long- and short-term developments in price level dispersion within Europe and the US from 1960 to 2014.
The authors
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