Ordóñez, Javier; Jusélius, Katarina - In: Economics: The Open-Access, Open-Assessment E-Journal 3 (2009) 2009-4, pp. 1-30
measured by the German price level) corrected for the Balassa-Samuelson effect. In the medium run this long-run convergence was … on Spanish labour market and the convergence to a European level of prosperity. We found that the Balassa-Samuelson … effect, product market competition, and capital liberalization have been the main driving forces in this period. The …