Guerreiro, David; Mignon, Valérie - In: Economic Modelling 34 (2013) C, pp. 42-51
We investigate price level convergence with Germany in eleven countries belonging to the Eurozone between January 1970 … and July 2011. Relying on smooth transition regression models, we show that the price convergence process is nonlinear …, depending on the size of the price differential: for most countries, price convergence occurs only when price differentials with …