Hiernaux, Alfredo García; Burbano, David Esteban Guerrero - Facultad de Ciencias Económicas y Empresariales, … - 2015
This paper shows that price level trends in many of the EMU countries evolve with different patterns and that these … patterns will not converge in the long-run. We propose that the hypothesis of price convergence should be evaluated and tested … employing the relative prices. To this aim, we: (i) define the asymptotic price level convergence in mean and variance, (ii …