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Unit Labor Cost Growth Differentials in the Euro Area, Germany, and the US: Lessons from PANIC and Cluster Analysis
Fritsche, Ulrich; Kuzin, Vladimir N. - 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/10010260899
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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/10010260904
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The euro and prices: changeover-related inflation and price convergence in the euro area
Sturm, Jan-Egbert; Fritsche, Ulrich; Graff, Michael; … - Directorate-General Economic and Financial Affairs, … - 2009
part of the report focuses on inflation perceptions and a fourth section explores the cross-border convergence of prices … differentials have generally declined over time across European countries though there is no sizeable euro introduction convergence …
Persistent link: https://www.econbiz.de/10008516230
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Adjustment in EMU: Is Convergence Assured?
Dullien, Sebastian; Fritsche, Ulrich; Groessl, Ingrid; … - Institut für Makroökonomie und Konjunkturforschung … - 2009
adjustment, the adjustment to a price shock in EMU might take several decades. Keywords: EMU, convergence, stability. …
Persistent link: https://www.econbiz.de/10008531663
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Unit labor cost growth differentials in the Euro area, Germany, and the US: lessons from PANIC and cluster analysis
Fritsche, Ulrich; Kuzin, Vladimir - Fachbereich Sozialökonomie, Universität Hamburg - 2007
area, and narrower differences in labour productivity growth (Alvarez et al., 2006). We investigate convergence of … factors 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/10005464597
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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 - Fachbereich Sozialökonomie, Universität Hamburg - 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/10005243293
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How bad is Divergence in the Euro-Zone? Lessons from the United States of America and Germany
Dullien, Sebastian; Fritsche, Ulrich - Fachbereich Sozialökonomie, Universität Hamburg - 2006
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/10005405234
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Adjustment in EMU: Is Convergence Assured?
Dullien, Sebastian; Fritsche, Ulrich; Groessl, Ingrid; … - Fachbereich Sozialökonomie, Universität Hamburg - 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/10005041948
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How bad is Divergence in the Euro-Zone? Lessons from the United States of America and Germany
Dullien, Sebastian; Fritsche, Ulrich - 2006
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/10010420824
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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/10010420835