that of higher-income economies since the start of monetary union. The significant real convergence performance of some of … view” and reviewing the evidence since the 1960s, this paper shows that certain member countries began to face a “non-convergence … driving real convergence in the euro area over time, alongside other factors; and (ii) the crucial interaction of real …

studied in isolation. The findings also shed new light on the role of the demographic transition for convergence patterns, the …

convergence and cohesion policies. In several steps, Cohesion Policy is examined in its function as a European financial …