Artis, Michael; Dreger, Christian; Kholodilin, Konstantin - Spatial Economics Research Centre, LSE - 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 andthe US. Ongoing business cycle convergence often detected in cross-country data is notconfirmed at … the regional level. The degree of synchronization across the euro area is similarto that to be found for the US states …