Dullien, Sebastian; Fritsche, Ulrich - In: Vierteljahrshefte zur Wirtschaftsforschung / Quarterly … 76 (2007) 4, pp. 56-76
In this paper we investigate if the actual debate on divergences in the Euro area is indeed a reason to be concerned. We argue that the standard definition of divergence in terms of standard deviations is too narrow to capture the persistence in deviations in output, prices and wages. Our...