DP9685 | Patterns of convergence and Divergence in the Euro Area

Publication Date

13/10/2013

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Abstract

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.