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Title
Non-linear adjustment of import prices in the European Union.
Abstract
The article presents an overview of a study of the process of adjustment of import prices in European Union countries towards their long-run equilibrium when they deviate from it due to changes in exchange rates or in foreign prices. Three different possibilities of non-linear adjustments are tested by modelling the process driving foreign prices, nominal exchange rates and import prices in domestic currency allowing for non-linear adjustments.