Dullien, Sebastian; Fritsche, Ulrich - 2007
Using unit labor cost (ULC) data from Euro area countries as well as US States and German L¨ander we investigate …. All in all we cannot reject convergence of ULC growth in EMU, however, country-specific deviations from the rest of the … currency union are much more pronounced and much more persistent in Europe. This holds before and after the introduction of the …