Prices and the pandemic Much more than economics and statistics, of course, have changed because of the Covid-19 pandemic: our health and that of our loved ones, our housing needs, our way of working, our consumption patterns, our social relationships. All of these, however, have had significant repercussions for the work done by economists and statisticians.
The common currency, with ongoing efforts to harmonize financial regulations and institutions, has significantly reduced those transaction costs. Together with lower country-specific macro risks arising from the adoption of the common currency, this reduction in transaction costs has greatly improved the breadth and efficiency of European financial markets.