Visualizations : Price levels across the EEC in early 80's : No idea on Italy, but another...
Creator:
Frank van Ham
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Data file:
4.2.1. Table 3. Indices of price levels, OECD = 100, 1970-2005
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Data source: OECD Factbook 2007 |
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Frank van Ham
saved this snapshot
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Frank van Ham says:
Why is Italy such an outlier here? All of these countries were in the EEC (one of the ancestors of the EU) but Italy’s price levels did not marketly increase in the early 80’s. |
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Anonymous says:
No idea on Italy, but another question (basic econ might answer this): I understand why proximate countries have similar curves, borders are porous to prices. But why do the US and EU15 have such a clear inverse relationship? They seem to be a mirror of each other! |
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Anonymous says:
If you compare the Benelux countries + France & Germany on one hand and Ireland+UK+Italy(+Spain?) on the other, Italy doesn’t seem so out of step, just in step with a different group. Italy was facing the Years of Lead in the 1970s? Political strife continued into the next decade. Maybe the US recession in the mid-80s sent a global price shock out that served to align the cycles of other world economies? |
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include snapshot of visualization?