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Adjustment in EMU : is convergence assured?

Dullien, Sebastian; Fritsche, Ulrich; Größl, Ingrid; … - 2009

Using a modified version of the model presented by Belke and Gros (2007), we analyze the stability of adjustment in a currency union. Using econometric estimates for parameter values we check the stability conditions for the 11 original EMU countries and Greece. We found significant instability...

Persistent link: https://www.econbiz.de/10010425867

Does the dispersion of unit labor cost dynamics in the EMU imply long-run divergence? : results from a comparison with the United States of America and Germany

Dullien, Sebastian; Fritsche, Ulrich - 2007

inflation convergence using different approaches, namely panel unit root tests, cointegration tests and error-correction models …. All in all we cannot reject convergence of ULC growth in EMU, however, country-specific deviations from the rest of the …

Persistent link: https://www.econbiz.de/10010426361

Unit labor cost growth differentials in the Euro area, Germany, and the US : lessons from PANIC and cluster analysis

Fritsche, Ulrich; Kuzin, Vladimir - 2007

area, and narrower differences in labour productivity growth (Alvarez et al., 2006). We investigate convergence of … are much less important in explaining the variance of ULC growth. We report evidence for convergence clusters in all …

Persistent link: https://www.econbiz.de/10010426362

How bad is divergence in the Euro-zone? : lessons from the United States of America and Germany

Dullien, Sebastian; Fritsche, Ulrich - 2006 - This version: October 06

This paper compares relative unit labour cost developments in the countries of the euro-area since the beginning of the European Monetary Union (EMU) both with historical developments and with intra-regional unit labour cost developments in the United States of America and Germany. To this end,...

Persistent link: https://www.econbiz.de/10010426369

Cross-economy dynamics in energy productivity : evidence from 47 economies over the period 2000-2015

Liu, Yang; Zhong, Sheng - 2021

economies contradict the implicit assumption of standard convergence analysis. To address this issue, we adopt the Markov chain …

Persistent link: https://www.econbiz.de/10012425283

A framework to study the role of structural transformation in productivity growth and regional convergence

Fukao, Kyōji; Paul, Saumik - 2018

We show that σ-convergence in regional productivity growth can be approximated by σ-convergence in sectoral … productivity growth and σ-convergence in structural transformation-led productivity growth. Applying this framework to Japanese … prefecture-level data from 1874 to 2008, we find support for substantial convergence effects of structural transformation in the …

Persistent link: https://www.econbiz.de/10011843800

Sectoral and skill contributions to labor productivity in Asia

Helble, Matthias; Long, Trinh; Le, Trang T. - 2019

Using a decomposition approach on data collected by the Asian Productivity Organization (APO) as well as World Input-Output data, we show that in most Asian economies the services sector makes the largest contribution to labor productivity. Furthermore, we find evidence of a major reallocation...

Persistent link: https://www.econbiz.de/10011992074