Download or read book The Convergence of Automobile Prices in the European Union written by and published by . This book was released on 2000 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: La progression du processus d'intégration des marchés, d'abord avec l'accomplissement de l'Acte unique européen en 1993 puis la signature du Traité de Maastricht, mais aussi les débats actuels sur la remise en cause du système de distribution automobile dans l'Union imposent un réexamen de l'évolution des différences de prix sur ce marché. L'étude la plus complète, de Goldberg et Verboven (1998), met en évidence une convergence des prix entre 1980 et 1993. Ce processus s'est-il poursuivi voire accentué avec la mise en place progressive de l'Union économique et monétaire ? Nous analysons la dynamique des écarts de prix entre pays de l'Union européenne sur le marché automobile entre 1993 et 1999. Depuis 1993, dans un souci de transparence, la Commission européenne impose aux constructeurs la publication semestrielle des prix de leurs principaux modèles dans tous les pays de l'Union. Nous utilisons ces données pour construire des séries de prix par pays à l'aide d'un modèle économétrique quasi-hédonique. Les propriétés de beta et sigma convergence de ces séries sont étudiées. On montre que, depuis la mise en oeuvre du Marché unique, il n'y a pas eu de convergence (sigmaconvergence, c'est-à-dire réduction de la dispersion) des prix hors taxes pratiqués dans les différents pays de l'Union. Un mécanisme de convergence (beta-convergence, i.e. une corrélation négative entre l'accroissement des prix et leurs niveaux relatifs initiaux) est pourtant bien à l'œuvre, mais ne se traduit pas par la réduction des écarts de prix principalement à cause des fluctuations monétaires. Par ailleurs la fiscalité, très variable d'un pays à l'autre, exerce un impact considérable sur les prix hors-taxes et leur dispersion. La disparition des fluctuations monétaires entre les pays de la zone Euro devrait permettre aux mécanismes d'arbitrage de jouer pleinement leur rôle et conduire à une réelle réduction des écarts de prix. L'éventuelle non-reconduction du règlement d'exemption autorisant la distribution exclusive pourrait limiter les pratiques anticoncurrentielles de segmentation des marchés.

Download or read book Price convergence in the European car market written by Salvador Gil-Pareja and published by . This book was released on 2005 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Market Integration and Convergence to the Law of One Price written by Pinelopi Koujianou Goldberg and published by . This book was released on 2001 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper exploits the unique experiment of European market integration to investigate the relationship between integration and price convergence in international markets. Using a panel data set of car prices we examine how the process of integration has affected cross-country price dispersion in Europe. We find surprisingly strong evidence of convergence towards both the absolute and the relative versions of Purchasing Power Parity. Our analysis illuminates the main sources of segmentation in international markets and suggests the type of institutional changes that can successfully reduce it.

Download or read book The Past Present and Future of the European Union written by A. Deardorff and published by Springer. This book was released on 2004-05-11 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume collects selected papers on the European Union from the 13th Congress of the International Economic Association held in Lisbon, September 2002. It starts with an address by Romano Prodi, President of the European Commission, who sets the tone for the other papers by describing and evaluating two of the greatest accomplishments of the EU: economic and monetary union, and EU enlargement. Other authors deal in detail with various aspects of these and other issues, using a mixture of theoretical, empirical, and other tools.

Download or read book Autopreise in Der Europ ischen Union written by and published by . This book was released on 2011 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Price Convergence in the European Union written by Robert C. G. Haffner and published by . This book was released on 2003 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Three Essays on Convergence and Persistence of Prices in the European Union written by Olena Ogrokhina and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation consists of three essays on the persistence and convergence of prices in the European Union. In the first essay I study price differentials in the Eurozone by comparing prices for specific goods between European cities, and estimate their persistence. The second essay tests the effect of the single market and single currency (euro) on price convergence in the European Union. The third essay tests the effect of trade on price convergence. In my first essay, using the Economist Intelligence Unit data I find that the Southern countries of the Eurozone have consistently lower prices. While the Core states such as Germany and France are more expensive, price differentials within the Core are very low. Using panel data I estimate the persistence of deviations from the Law of One Price by employing linear and nonlinear panel unit root tests that account for contemporaneous as well as serial correlation. Based on the linear test, the estimated half-lives of the deviations from the Law of One Price are 13 months for traded goods and 15 months for non-traded goods. Price differentials for certain traded goods revert to parity at different speeds, for example prices for food adjusts much faster than for cars. Splitting the data series for individual goods into stationary and non-stationary components reduces the half-lives to 3 months for traded goods and 5 months for non-traded goods. The results of the nonlinear test suggest that the speed of reversion to parity is constant and independent of the size of the deviations, which implies prices based on good-specific data adjust in a linear rather than a nonlinear fashion. The implementation of international treaties in the European Union was expected to promote integration of consumer markets. In my second essay, I analyze the convergence of prices for a range of traded goods. Large price differentials remain across Europe. Using high income non-euro European countries as a control group, I test the effect of the euro and the earlier implemented Single European Act on the convergence of prices in the European Union. Using a difference-in-difference estimation strategy, I find that the Single European Act, rather than the common currency, reduced price differentials and promoted price convergence. Wide price differences still exist across the members of the European Union. While differentials among the ``old'' EU members have changed little over time, large price differentials between the Eastern and Central EU and the Eurozone have reduced significantly, with prices completely converging to the levels of the Southern EU. In my third essay I test the effect of trade on price differentials. The fixed effects estimate shows strong correlation between price differentials and bilateral trade, a 1\% increase in bilateral trade reduces price differences by 9\%. This finding is completely driven by the Eastern and Central EU. Since the relationship between the price differentials and trade can go in either direction, an instrument is required to estimate a causal relationship. Instrumental-variables strategy shows that the effect of trade on price differentials for the Eastern and Central EU is even larger, at 13\%, yet insignificant for the remaining EU members.

Download or read book Car Prices Within the European Union written by European Commission and published by . This book was released on 2004 with total page 217 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Gains from Convergence in US and EU Auto Regulations Under the Transatlantic Trade and Investment Partnership written by Sarah Oliver and published by . This book was released on 2015 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: Regulatory standards protect consumers from defective products, but they impede trade when they differ across countries. The Transatlantic Trade and Investment Partnership (TTIP) seeks to reduce distortions in the automobile and other industries. This paper evaluates the equivalence of automobile regulations in the United States and the European Union in terms of catastrophe avoidance and estimates the trade gains from improved regulatory coherence. The UN 1958 Agreement on automobiles, which offers a framework for harmonizing regulations among signatories, is used to quantify the trade effect of regulatory convergence. The removal of regulatory differences in autos is estimated to increase trade by 20 percent or more. The effect on trade from harmonizing standards is only slightly smaller than the effect of EU accession on auto trade. The large economic gains from regulatory harmonization imply that TTIP has the potential to improve productivity while lowering prices and enhancing variety for consumers.

Download or read book Price Convergence in the Enlarged Internal Market written by Christian Dreger and published by . This book was released on 2007 with total page 103 pages. Available in PDF, EPUB and Kindle. Book excerpt: The studies' main aim is to investigate the effects of the EU-10 enlargement on price convergence within the Internal Market. It distinguishes between the opposite forces provided by: (1) the catching up effect of the EU-10, expected to lead to a rise in price levels; and (2) increased competitiveness pressure on prices expected to lower price levels due to lower mark ups of prices over marginal costs. The study is based on comparative price levels for the EU-25, covering the period 1999-2004. Distinct variables were identified as proxies for the catching-up and competition forces. The following analysis proceeded in two steps. First, it is examined whether price convergence has occurred and, second, what are its main drivers. The results confirm the presence of price convergence. This process is particularly visible in the case of basic headings, most likely because they are related to more homogeneous products. Moreover, both catching up and competition have been important factors for explaining price convergence. In addition, both effects seem to be more pronounced for the EU-10 than for the EU-15.

Download or read book Car Prices Within the European Union written by European Commission. Directorate-General IV--Competition and published by . This book was released on 2004 with total page 217 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book An Empirical Investigation of Price Convergence in the European Union written by Mita Goldar and published by . This book was released on 2002 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Vehicle of Influence written by Roland Francis Stephen and published by University of Michigan Press. This book was released on 2009-12-21 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines a crucial period in European integration, ending in the early 1990s, when significant progress was made towards the dream of a unified European market. It shows how European automakers were part of these changes and how their influence within the institutions of the European Union (EU) yielded a wide range of policy compromises governing a single European car market. The book begins by reviewing the history of the EU and the logic of regional free trade, and goes on to develop a political explanation for the kinds of changes that actually occurred. The author argues that European automakers enjoyed a privileged place in the political arena, albeit one much transformed by the new institutions of the EU. Therefore, these firms often significantly influenced regional policy outcomes. The argument is applied to policymaking in the important areas of environmental regulation, trade, subsidies, and anti-trust regulation. This work lies at the intersection of business, economics, and political science and is of interest to both experts and non-specialists with an interest in the tremendous economic and political changes brought about by the creation of a united Europe and, more generally, by the worldwide process of regional economic integration. Academics, professionals, businessmen, and leaders in government all have something to learn from the way in which firms and governments combined to build the largest car market in the world. Roland Stephen is Assistant Professor in the Department of Political Science, North Carolina State University.

Download or read book Europe s Automotive Industry on the Move written by Oliver Heneric and published by Springer Science & Business Media. This book was released on 2006-03-30 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: The automotive industry is a major pillar of the modern global economy and one of Europe’s key industries. There can hardly be any doubt about the important role of this sector as an engine for employment, growth and innovation in Europe, and there are crucial challenges and opportunities ahead. The authors shed light on a broad range of issues – globalisation and restructuring, trade and foreign direct investment, innovation, regulation, and industry policy – and put a special focus on the new member states. While change may be inevitable, progress is not. This book shall serve as a map to all stakeholders: business executives and policy makers, investors and scholars.

Download or read book Car Prices Within the European Union on 1 May 2002 written by European Commission and published by . This book was released on 2002 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Car Prices Within the European Union on 1 May 2000 written by European Commission and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Car Prices Within the European Union on 1 May 2003 written by European Commission and published by . This book was released on 2004 with total page 183 pages. Available in PDF, EPUB and Kindle. Book excerpt: