Artis, Michael; Dreger, Christian; Kholodilin, Konstantin A. - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 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 and the US. Ongoing business cycle convergence often detected in a country data is not confirmed at …. Thus, the lack of convergence does not seem to be an impediment to a common monetary policy. …