Estrada García, Ángel; Galí, Jordi; Lopez-Salido, David - C.E.P.R. Discussion Papers - 2013
We study the extent of macroeconomic convergence/divergence among euro area countries. Our analysis focuses on four … variables (unemployment, inflation, relative prices and the current account), and seeks to uncover the role played by monetary … union as a convergence factor by using non-euro developed economies and the pre-EMU period as control samples. …