Artis, Michael J; Dreger, Christian; Kholodilin, Konstantin - C.E.P.R. Discussion Papers - 2009
We examine real business cycle convergence for 41 euro area regions and 48 US states. Results obtained by a panel model … decades in the euro area and the US. Ongoing business cycle convergence often detected in cross-country data is not confirmed … at the regional level. The degree of synchronization across the euro area is similar to that to be found for the US …