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ASSESSMENT OF PRICE VOLATILITY IN EURO AREA, GERMANY AND FRANCE

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Jędruchniewicz A., Bródka D.
Ekonomický časopis (Journal of Economics)
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2020
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vol. 68
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issue 5
499 – 519
EN
The aim of this study is the assessment of the applicability of the Austrian School theory in explaining products’ price volatility at particular stages of structure of production. This assessment was based on the authorial model and the usage of statistical tests. Empirical verification of Austrian School theories is rare in economic literature. The test method used in this study fills the gap in the price volatility research. Proposed approach was not used in regards to the Austrian School theory before. The data analysis of the years among 2010 – 2017 indicated an existence of statistically significant differences in price volatility within various stages of production structure in all analysed economies, including the euro area, Germany and France. In the analysed years price volatility of goods was higher at stages of production structure more distant to final consumer goods. The exception was lower price volatility on capital goods stage compared to consumer goods in euro area and French economy.
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