Borsi, Mihály; Metiu, Norbert - In: Empirical Economics 48 (2015) 2, pp. 657-681
This paper investigates per capita real income convergence in the European Union (EU) within a non-linear latent factor framework. We establish a set of novel stylized facts on economic convergence between 1970 and 2010 in light of the institutional changes and macroeconomic adjustment processes...