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Are Price Dynamics Homogenous across Emerging Europe? Empirical Evidence from Panel Data

In: Monetary Policy in the Context of the Financial Crisis: New Challenges and Lessons

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  • Iuliana Matei

Abstract

The aim of this chapter is to explore whether price dynamics is homogenous across Emerging Europe. We employ dynamic panel estimation techniques (including the Pooled Mean Group estimator of Pesaran, Smith, and Shin) over the 2003–2013 period and use Germany, and respectively, the European Union (EU) as the references. Results highlight some heterogeneity across the Emerging Europe members in terms of price convergence speed. Findings are robust across different specifications.

Suggested Citation

  • Iuliana Matei, 2015. "Are Price Dynamics Homogenous across Emerging Europe? Empirical Evidence from Panel Data," International Symposia in Economic Theory and Econometrics, in: Monetary Policy in the Context of the Financial Crisis: New Challenges and Lessons, volume 24, pages 41-50, Emerald Group Publishing Limited.
    • Handle: RePEc:eme:isetez:s1571-038620150000024015
    DOI: 10.1108/S1571-038620150000024015
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    More about this item

    Keywords

    price convergence; Emerging Europe; panel unit root tests; half-life; C23; E31; F15; F41;
    All these keywords.

    JEL classification:

    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • F15 - International Economics - - Trade - - - Economic Integration
    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics

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