country-specific shocks, not differences in the transmission of common shocks. Third, the role of income convergence in … explaining the dispersions has increased over time, while the role of price level convergence has declined. However, the … increased role of income convergence should be viewed with caution, as it may reflect temporary rather than fundamental …

perceived convergence with the European Union. The authors also adjust the official budget numbers for one-off privatization …

The article contains a general analysis of the exchange rate convergence process of EU and eurozone-candidate countries … convergence process in EU countries. The fourth and final part summarizes the main experiences of EU/eurozone countries with … exchange rate convergence within the ERM and ERM2 period. …

The paper provides an introduction to essays published in this volume, which focus on nominal and real convergence in … transition countries. The paper is based on the idea that the process of convergence can, to a large extent, be viewed via …

The article contains a general analysis of the exchange rate convergence process of EU and eurozone-candidate countries … convergence process in EU countries. The fourth and final part summarizes the main experiences of EU/eurozone countries with … exchange rate convergence within the ERM and ERM2 period. …

The paper provides an analysis of the convergence in selected macroeconomic fundamentals of several Central and East … aspects of economic transformation in the region. Convergence in macroeconomic fundamentals among the transition countries was … convergence. This finding is in line with neoclassical growth theory, which supports the occurrence of convergence among similar …

The article is a general analysis of the exchange rate convergence process for EU and Eurozone candidate countries. The … legislative rules. The third part discusses the exchange rate convergence criterion, especially its definition, time frames and …

less efficient in ensuring nominal convergence, and more costly in terms of output, interest-rate and external …

, administered price deregulation, and nominal convergence) are incorporated in the author?s model. Major shocks come from external … can be used for a comparison of the efficiency of monetary rules in ensuring convergence to low inflation and their costs …