currencies and adopted a new common currency, the euro. Several recent papers argue that the introduction of the euro has led (by …

convergence to market equilibrium. It is expedient that some parties have differentiable objectives or make strictly feasible …

distance. Furthermore, there is little evidence of income convergence. Using various methods and data sets, we show that many …

This paper proposes a pair-wise approach to testing for output convergence that considers all N(N-1)/2 possible pairs … of log per capita output gaps across N economies. A general probabilistic definition of output convergence is also …-2000. Overall, the results do not support output convergence, and suggest that the findings of convergence clubs in the literature …

This paper investigates cross-country productivity convergence at a sectoral level using multivariate unit-root tests … data. Third, when the null hypothesis of non convergence is rejected, a second test determines the number of converging … countries. Based on a sample of thirteen OECD countries our results show evidence of convergence in three out of six sectors …