Patterns of Convergence and Divergence in the Euro Area
---- Acknowledgements ----
Prepared for the IMF Thirteenth Jacques Polak Annual Research Conference, November 8−9, 2012. We thank Pierre-Olivier Gourinchas, Ayhan Kose, and two anonymous referees and conference participants for their comments. The views expressed in this paper are those of the authors alone and do not necessarily reflect the views of the Banco de España, the Board of Governors of the Federal Reserve System, its staff, or the National Bureau of Economic Research.
---- Disclosure of Financial Relationships for Jordi Galí ----
I have an ongoing consulting relationship with the European Central Bank and the Sveriges Riksbank. I am a member of the Board of Directors of BanSabadell Inversión, an Barcelona-based investment fund.