{"id":105640,"date":"2024-01-22T14:26:50","date_gmt":"2024-01-22T13:26:50","guid":{"rendered":"https:\/\/www.wifo.ac.at\/publication\/105640\/"},"modified":"2024-11-18T13:40:41","modified_gmt":"2024-11-18T12:40:41","slug":"preisentwicklung-und-die-einfuehrung-des-euro-2","status":"publish","type":"publication","link":"https:\/\/www.wifo.ac.at\/en\/publication\/105640\/","title":{"rendered":"Prices and the Launch of the Euro"},"content":{"rendered":"","protected":false},"featured_media":0,"template":"","class_list":["post-105640","publication","type-publication","status-publish","hentry"],"acf":{"subtitle":"","text":"Preparations for introducing the euro as a cash currency were taken in a period of relatively high inflation rates, and people were worried that the new currency would be used to raise prices. A preliminary assessment of the extent to which the euro launch affects price levels, however, found no indications that the change from schilling to euro had triggered a wave of price increases. The fact that inflation accelerated in the euro zone in general and Austria in particular since late 1999 is due mainly to external factors. The hefty increase of prices for raw materials (crude oil) and the loss of value experienced by the euro (and thus the schilling) vis-\u00e0-vis the dollar both impact on the inflation rate at the consumer level via import prices, at first directly by a substantial rise in energy prices and then, after some delay, through higher costs incurred by domestic processors of raw materials by higher prices for goods and services (manufactured goods and transport services such as coach trips and flights). Higher food prices, as found in all the EU countries, also contributed their share to the rising inflation rate. Fruits and vegetables grew more expensive as a result of bad harvests, the price of meat went up in consequence of current agricultural problems (BSE crisis, F&amp;M); and even the range of dairy products appears to have been affected. The current rise in inflation thus stays within the frame expected from the rise in raw material prices, the weak euro, the limited supply on agricultural markets and the increase in wage costs. The fear that the new currency could lead to higher prices concerns mostly goods and services which are typically priced at (psychological) threshold levels. The most sensitive sectors to be affected are food and daily consumer goods. Yet these constitute much less than half the items included in the consumer price index basket (weighed by expenditure shares). An analysis of prices for food, for meals and beverages in restaurants and caf\u00e9s and for industrial goods found no extreme price increases on average, even though individual items may well have become more expensive. This finding is confirmed by detailed comparisons of price developments in Austria, Germany and Switzerland. Obviously there are some deviations between the three countries in some product groups. Yet in general, the deviations cancel each other out, and the price development in Austria is quite similar to that in Germany and Switzerland. For areas where differences were pinpointed, they have been observed for more than a year; this suggests that the differences are due to other factors than the change in currency.","onlinedate":"2001-12-20 12:00:00","lang":"German","publication_series":"","publication_date":"20011201","publication_date_year":"","publication_date_full":false,"publication_num_pages":"","keywords":"[\"Preisentwicklung und die Einf\u00fchrung des Euro; Prices and the Launch of the Euro\"]","jelcodes":"[]","related_publications":"[]","pdf":416732,"zip":null,"link":"","monthly_report":true,"monthly_report_main":false,"monthly_report_volume":"74","monthly_report_pages":"749-759","monthly_report_pages_sort":"749","issue":"12","journal":"WIFO-Monatsberichte","publisher":"","invisible":false,"external":false,"embargo_date":"2001-12-20 12:00:00","types":[44312],"research_groups":[3510],"collaboration":"","persons":[3797],"persons_data":"[{\"personId\":3797,\"personName\":\"Wolfgang Pollan\",\"organisationNames\":[]}]","clients":[],"subclients":[],"partners":[],"topics":[],"host_publication_title":"","host_publication_subtitle":"","place_of_publication":"","host_publication_editors":"[]","type_description":"","output_media":"","chapter":"","article_number":"","citations":"{\"apa\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_apa rendering_contributiontoperiodical rendering_apa rendering_contributiontoperiodical_apa\\\"><span>Pollan, W.<\\\/span> (2001). <span>Preisentwicklung und die Einf\u00fchrung des Euro<\\\/span>. <span><em>WIFO-Monatsberichte<\\\/em><\\\/span>, <em>74<\\\/em>(12), 749-759. <a onclick=\\\"window.open(this.href, '_blank','noopener,noreferrer'); return false;\\\" href=\\\"https:\\\/\\\/www.wifo.ac.at\\\/wwa\\\/pubid\\\/20965\\\" class=\\\"link\\\"><span>https:\\\/\\\/www.wifo.ac.at\\\/wwa\\\/pubid\\\/20965<\\\/span><\\\/a><\\\/div>\",\"vancouver\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_vancouver rendering_contributiontoperiodical rendering_vancouver rendering_contributiontoperiodical_vancouver\\\"><span>Pollan W<\\\/span>. <span class=\\\"title\\\"><span>Preisentwicklung und die Einf\u00fchrung des Euro<\\\/span><\\\/span>. <span>WIFO-Monatsberichte<\\\/span>. 2001 Dec;74(12):749-759.<\\\/div>\",\"bibtex\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_bibtex rendering_contributiontoperiodical rendering_bibtex rendering_contributiontoperiodical_bibtex\\\"><div>@misc{67148154900b4928b6b73d074d7ef7e5,<\\\/div><div>  title    = \\\"Preisentwicklung und die Einf{\\\\\\\"u}hrung des Euro\\\",<\\\/div><div>  abstract = \\\"Die Errichtung der Wirtschafts- und W{\\\\\\\"a}hrungsintegration ist ein entscheidender Integrationsschritt der Europ{\\\\\\\"a}ischen Union. Die damit verbundene Einf{\\\\\\\"u}hrung des Euro ist mit Kosten verbunden, bringt allerdings auch Kostenentlastungen. Die Einf{\\\\\\\"u}hrung des Euro als Bargeld belastet in der gegenw{\\\\\\\"a}rtigen Umstellungsphase insbesondere den Handel. Die Beschleunigung der Inflation seit dem Jahr 2000 fiel in die Zeit der Vorbereitungen zur Bargeldumstellung. Dieser Umstand lie{\\\\ss} Bef{\\\\\\\"u}rchtungen laut werden, dass die relativ hohe Teuerungsrate ein Effekt der bevorstehenden W{\\\\\\\"a}hrungsumstellung sei. Der vorliegende Beitrag untersucht auf Basis der bis zum Herbst vorliegenden Daten, wieweit die Teuerungsrate jenem Rahmen entspricht, der durch den weltwirtschaftlichen Hintergrund vorgegeben wird. Vergleiche der Entwicklung der Preise einzelner Warengruppen zwischen {\\\\\\\"O}sterreich, Deutschland und der Schweiz erg{\\\\\\\"a}nzen die Untersuchung.\\\",<\\\/div><div>  keywords = \\\"Preisentwicklung und die Einf{\\\\\\\"u}hrung des Euro; Prices and the Launch of the Euro, Preisentwicklung und die Einf{\\\\\\\"u}hrung des Euro; Prices and the Launch of the Euro\\\",<\\\/div><div>  author   = \\\"Wolfgang Pollan\\\",<\\\/div><div>  note     = \\\"Preisentwicklung und Euro\\\",<\\\/div><div>  year     = \\\"2001\\\",<\\\/div><div>  month    = dec,<\\\/div><div>  language = \\\"Deutsch\\\",<\\\/div><div>  volume   = \\\"74\\\",<\\\/div><div>  pages    = \\\"749--759\\\",<\\\/div><div>  journal  = \\\"WIFO-Monatsberichte\\\",<\\\/div><p>}<\\\/p><\\\/div>\",\"ris\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_ris rendering_contributiontoperiodical rendering_ris rendering_contributiontoperiodical_ris\\\"><p>TY  - GEN<\\\/p><p>T1  - Preisentwicklung und die Einf\u00fchrung des Euro<\\\/p><p>AU  - Pollan, Wolfgang<\\\/p><p>N1  - Preisentwicklung und Euro<\\\/p><p>PY  - 2001\\\/12<\\\/p><p>Y1  - 2001\\\/12<\\\/p><p>N2  - Die Errichtung der Wirtschafts- und W\u00e4hrungsintegration ist ein entscheidender Integrationsschritt der Europ\u00e4ischen Union. Die damit verbundene Einf\u00fchrung des Euro ist mit Kosten verbunden, bringt allerdings auch Kostenentlastungen. Die Einf\u00fchrung des Euro als Bargeld belastet in der gegenw\u00e4rtigen Umstellungsphase insbesondere den Handel. Die Beschleunigung der Inflation seit dem Jahr 2000 fiel in die Zeit der Vorbereitungen zur Bargeldumstellung. Dieser Umstand lie\u00df Bef\u00fcrchtungen laut werden, dass die relativ hohe Teuerungsrate ein Effekt der bevorstehenden W\u00e4hrungsumstellung sei. Der vorliegende Beitrag untersucht auf Basis der bis zum Herbst vorliegenden Daten, wieweit die Teuerungsrate jenem Rahmen entspricht, der durch den weltwirtschaftlichen Hintergrund vorgegeben wird. Vergleiche der Entwicklung der Preise einzelner Warengruppen zwischen \u00d6sterreich, Deutschland und der Schweiz erg\u00e4nzen die Untersuchung.<\\\/p><p>AB  - Die Errichtung der Wirtschafts- und W\u00e4hrungsintegration ist ein entscheidender Integrationsschritt der Europ\u00e4ischen Union. Die damit verbundene Einf\u00fchrung des Euro ist mit Kosten verbunden, bringt allerdings auch Kostenentlastungen. Die Einf\u00fchrung des Euro als Bargeld belastet in der gegenw\u00e4rtigen Umstellungsphase insbesondere den Handel. Die Beschleunigung der Inflation seit dem Jahr 2000 fiel in die Zeit der Vorbereitungen zur Bargeldumstellung. Dieser Umstand lie\u00df Bef\u00fcrchtungen laut werden, dass die relativ hohe Teuerungsrate ein Effekt der bevorstehenden W\u00e4hrungsumstellung sei. Der vorliegende Beitrag untersucht auf Basis der bis zum Herbst vorliegenden Daten, wieweit die Teuerungsrate jenem Rahmen entspricht, der durch den weltwirtschaftlichen Hintergrund vorgegeben wird. Vergleiche der Entwicklung der Preise einzelner Warengruppen zwischen \u00d6sterreich, Deutschland und der Schweiz erg\u00e4nzen die Untersuchung.<\\\/p><p>KW  - Preisentwicklung und die Einf\u00fchrung des Euro; Prices and the Launch of the Euro<\\\/p><p>KW  - Preisentwicklung und die Einf\u00fchrung des Euro; Prices and the Launch of the Euro<\\\/p><p>M3  - WIFO-Schriftenreihen<\\\/p><p>VL  - 74<\\\/p><p>SP  - 749<\\\/p><p>EP  - 759<\\\/p><p>JO  - WIFO-Monatsberichte<\\\/p><p>JF  - WIFO-Monatsberichte<\\\/p><p>ER  - <\\\/p><\\\/div>\"}","scientific_assistance":"[]","scientific_review":"[]","version":"","release_date":null,"expiration_date":null,"surveyor":"","research_assistance":"","edv":"","additional_info_de":"","additional_info_en":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Prices and the Launch of the Euro - WIFO<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.wifo.ac.at\/en\/publication\/105640\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Prices and the Launch of the Euro\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.wifo.ac.at\/en\/publication\/105640\/\" \/>\n<meta property=\"og:site_name\" content=\"WIFO\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/WIFOat\/\" \/>\n<meta property=\"article:modified_time\" content=\"2024-11-18T12:40:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.wifo.ac.at\/wp-content\/uploads\/2024\/05\/WIFO-Gebaeude-FotoAlexanderMueller-www.alexandermueller.at-IMG_6326-Bearbeitet-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1280\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:site\" content=\"@WIFOat\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.wifo.ac.at\\\/en\\\/publication\\\/105640\\\/\",\"url\":\"https:\\\/\\\/www.wifo.ac.at\\\/en\\\/publication\\\/105640\\\/\",\"name\":\"Prices and the Launch of the Euro - 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