FABER, RIEMER P.; STOKMAN, AD C. J. - In: Journal of Money, Credit and Banking 41 (2009) 2-3, pp. 461-477
We study the evolution of price level dispersion in Europe by combining time-series information on harmonized indices of consumer prices (HICPs) with occasional observations of absolute price levels. We find that European price levels converged over much of the last 40 to 50 years. In the United...