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<p>[QUOTE="chrisild, post: 1869356, member: 39"]As I tried to point out, there were many factors. For example, as from June 2001 the Institut für angewandte Verbraucherforschung "observed" prices for 700 everyday goods. In several cases they found out that retailers had raised the prices before the Jan-2002 cash changeover, as they expected to be under scrutiny after the euro cash introduction.</p><p><br /></p><p>However, as you mentioned, many items that did not become more expensive or even had lower prices, such as household appliances or electronics, do not really influence the perceived or felt inflation: We don't buy them that often, and they are not standardized products. Our perception focuses on other items.</p><p><br /></p><p>Between early 2001 and late 2005 for example the inflation rate was at roughly 2 percent. The perceived inflation rate was roughly between 8 and 15 percent, depending on the parameters. (Source: Prof. Hans W. Brachinger, Université de Fribourg/Switzerland: Der Euro als Teuro? Die wahrgenommene Inflation in Deutschland). After 2005 that gap was slowly closed again. Today it is roughly as it was before 2000.</p><p><br /></p><p>In mid-2004 Prof. Stefan Schulz-Hardt, a "financial sociology" expert (Dresden Technical University), published a study with about 1,500 participants in Germany and 250 or so in Austria. These people had to read restaurant menus with prices in DM and later in €, then they were asked to estimate how the prices had changed. If the euro price was 15% higher than the mark price, people guessed an average 20% raise. If the prices were not changed (just converted and rounded), people believed that prices had gone up 10%. Stable prices were assumed only if the euro prices were about 15% less than the mark prices. <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie11" alt=":rolleyes:" unselectable="on" unselectable="on" /></p><p><br /></p><p>Errm, back to the topic ... Here are parts of two "first generation" €5 notes with stamps. One is from a tracking site (eurobt.net), so the poster hid the serial number. Both notes circulated in Spain, I suppose - one promotes Asturian as an official language, the other one is, well, obvious.</p><p><br /></p><p>Christian</p><p><br /></p><p>[ATTACH=full]315397[/ATTACH]</p><p><br /></p><p>[ATTACH=full]315398[/ATTACH][/QUOTE]</p><p><br /></p>
[QUOTE="chrisild, post: 1869356, member: 39"]As I tried to point out, there were many factors. For example, as from June 2001 the Institut für angewandte Verbraucherforschung "observed" prices for 700 everyday goods. In several cases they found out that retailers had raised the prices before the Jan-2002 cash changeover, as they expected to be under scrutiny after the euro cash introduction. However, as you mentioned, many items that did not become more expensive or even had lower prices, such as household appliances or electronics, do not really influence the perceived or felt inflation: We don't buy them that often, and they are not standardized products. Our perception focuses on other items. Between early 2001 and late 2005 for example the inflation rate was at roughly 2 percent. The perceived inflation rate was roughly between 8 and 15 percent, depending on the parameters. (Source: Prof. Hans W. Brachinger, Université de Fribourg/Switzerland: Der Euro als Teuro? Die wahrgenommene Inflation in Deutschland). After 2005 that gap was slowly closed again. Today it is roughly as it was before 2000. In mid-2004 Prof. Stefan Schulz-Hardt, a "financial sociology" expert (Dresden Technical University), published a study with about 1,500 participants in Germany and 250 or so in Austria. These people had to read restaurant menus with prices in DM and later in €, then they were asked to estimate how the prices had changed. If the euro price was 15% higher than the mark price, people guessed an average 20% raise. If the prices were not changed (just converted and rounded), people believed that prices had gone up 10%. Stable prices were assumed only if the euro prices were about 15% less than the mark prices. :rolleyes: Errm, back to the topic ... Here are parts of two "first generation" €5 notes with stamps. One is from a tracking site (eurobt.net), so the poster hid the serial number. Both notes circulated in Spain, I suppose - one promotes Asturian as an official language, the other one is, well, obvious. Christian [ATTACH=full]315397[/ATTACH] [ATTACH=full]315398[/ATTACH][/QUOTE]
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