convergence and crisis with a specific focus on Greece. The paper extends the seminal Balassa-Samuelson model to include …

regional income data are available. We subsequently use our estimation results for an out-of-sample prediction of regional … approximately 71-80% of all countries face sigma-convergence. Finally, we study different major determinants of the level of ….e., the determinants of the convergence process. We find evidence for an N-shaped relationship between development and …

context of real convergence. For this purpose it extends the seminal Balassa-Samuelson model by international capital markets …

While the financial protection measures enacted by the ECB and the community of Eurozone members have calmed financial … markets, they have left the competitiveness problem of the Eurozone's southern countries and France unresolved. The paper …

focus on the new member countries of Central and Eastern Europe. Using an array of estimation methods, we show that the … periods of very fast growth. We interpret these results as a sign that price level convergence comes from goods, market and …

This paper proposes a new method of forecasting euro area quarterly real GDP that uses areawide indicators, which are …

This paper presents a stress indicator for the eurozone that summarizes developments of trends and cycles in real GDP … on the trend growth rates of GDP and consumer prices as well as on the related cyclical components. The main results are … that stress in the eurozone is mainly due to different trend growth rates and that for most of the Euro-zone countries …

regions, we find evidence for conditional convergence with speed around two percent. The convergence process between countries … is dominated by the catching up process of regions in Central and Eastern Europe (CEE), whereas convergence within …