The huge price differences between the former Soviet Union (FSU) and remaining world emerged at the beginning of 1990s. This phenomenon of hundredfold relative purchasing power of foreign currencies in the republics of FSU is not systematically explained by the traditional system of the...

Both the size and the persistence of inflation differentials in the euro area have been the subject of a large number of studies in recent years. These studies have tried to determine the causes of these differentials as well as their implications not only for the implementation of the common...