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Patterns of convergence and divergence in the euro area
Estrada, Ángel; Galí, Jordi; López-Salido, David
Universitat Pompeu Fabra. Departament d'Economia i Empresa
We study the extent of macroeconomic convergence/divergence among euro area countries. Our analysis focuses on four variables (unemployment, inflation, relative prices and the current account), and seeks to uncover the role played by monetary union as a convergence factor by using non-euro developed economies and the pre-EMU period as control samples.
2013-10-05
Macroeconomics and International Economics
macroeconomic convergence
labor markets
competitiveness
inflation differentials
current account imbalances
relative prices.
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