Patterns of Convergence and Divergence in the Euro Area
Working Paper 19561
DOI 10.3386/w19561
Issue Date
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