Measuring Price Differences Across Countries and Time in the European Union
نویسنده
چکیده
This paper considers the problem of how to construct price indexes on a panel data set. First a suitable panel data set is constructed by merging Eurostat’s Harmonized Index of Consumer Prices (HICP) with a cross-section of OECD data. Second, seven different methods for constructing price indexes on a panel are proposed. These are then applied to the merged HICP/OECD data set. Temporal and spatial price indexes are computed for the 15 member countries of the European Union over the period 1995-2000. The paper concludes by testing whether price levels and relative prices have converged over this period. (JEL C43, E31, O47)
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