Various econometric specifications and levels of data aggregation have yielded different results for labor productivity convergence. However, few studies have modeled convergence while formally accounting for regional spatial interactions, notwithstanding a wide recognition of their importance...

Various econometric specifications and levels of data aggregation have yielded different results for labor productivity convergence. However, few studies have modeled convergence while formally accounting for regional spatial interactions, notwithstanding a wide recognition of their importance...

We empirically study the impact of inflation targeting credibility on business cycle synchronization with G-7 economies. To do this, we use a sample of 15 inflation targeting countries to develop and calculate a reputation-based credibility measure for long- and short-term memory. By using...

By using the Economic Sentiment Indicator and Autoregressive Markov Switching models, this paper provides an effective tool to identify and characterize expectations of business cycle phases for Germany, Spain, the Euro Area, and the European Union. This information is useful for policy makers...