title: Explaining the Persistent Effect of the Euro-Changeover on German Restaurant Prices
creator: Eife, Thomas A.
subject: ddc-330
subject: 330 Economics
description: This paper studies the long-run effect of the 2002 changeover on restaurant prices in Germany. German restaurant prices increased significantly when the euro was introduced as a new currency but rather than returning to their re-changeover trend, restaurant prices appear to have stabilized on a higher path. This stands in contrast to the prediction of menu costs models or models of confusion-induced price increases as these models can only account for a transitory effect. The persistence of the increase suggests the existence of more than one price equilibrium. This multiplicity of price equilibria is a central part of the explanation proposed in the paper.
date: 2011
type: Working paper
type: info:eu-repo/semantics/workingPaper
type: NonPeerReviewed
format: application/pdf
identifier: https://archiv.ub.uni-heidelberg.de/volltextserverhttps://archiv.ub.uni-heidelberg.de/volltextserver/12567/1/Eife_2011_dp518.pdf
identifier: DOI:10.11588/heidok.00012567
identifier: urn:nbn:de:bsz:16-opus-125678
identifier:   Eife, Thomas A.  (2011) Explaining the Persistent Effect of the Euro-Changeover on German Restaurant Prices.  [Working paper]     
relation: https://archiv.ub.uni-heidelberg.de/volltextserver/12567/
rights: info:eu-repo/semantics/openAccess
rights: http://archiv.ub.uni-heidelberg.de/volltextserver/help/license_urhg.html
language: eng