We show in this paper that spatial dependence and spatial heterogeneity matter in the estimation of the b-convergence … dependence and spatial heterogeneity in the form of structural instability across spatial convergence clubs. The estimation of … the appropriate spatial regimes spatial error model shows that the convergence process is different across regimes. We …

to the concepts of ƒã- and ƒÒ-convergence and emphasizes the importance of including spatial effects and a disaggregated … analysis at a sectoral level. We detect a significant -convergence only in aggregate labor productivity and in the services … sectors among peripheral regions. We also show that omitting spatial effects leads to biased measures of -convergence. We then …

part of the report focuses on inflation perceptions and a fourth section explores the cross-border convergence of prices … differentials have generally declined over time across European countries though there is no sizeable euro introduction convergence …

and timing of euro adoption. We investigate the real-nominal convergence nexus from the perspective of euro area entry. We … argue that the initial level of economic development as measured by per capita income and the speed of real convergence have …