NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Patterns of Convergence and Divergence in the Euro Area

Ángel Estrada, Jordi Galí, David López-Salido

NBER Working Paper No. 19561
Issued in October 2013
NBER Program(s):   EFG   IFM   ME

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

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Document Object Identifier (DOI): 10.3386/w19561

Published: IMF Economic Review (2013) 61, 601–630. doi:10.1057/imfer.2013.22 Patterns of Convergence and Divergence in the Euro Area Ángel Estrada*, Jordi Galí* and David López-Salido*

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