TY  - GEN
A1  - Eife, Thomas A.
UR  - https://archiv.ub.uni-heidelberg.de/volltextserver/12567/
N2  - 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.
AV  - public
Y1  - 2011///
TI  - Explaining the Persistent Effect of the Euro-Changeover on German Restaurant Prices
ID  - heidok12567
ER  -