the real-nominal convergence nexus from the perspective of euro area entry. We argue that the initial level of economic … development as measured by per capita income and the speed of real convergence have a bearing on the strategies to follow and on …

The paper surveys the main trends of per capita income convergence in the European Union. It stresses that income … disparities have ceased to diminish across the European regions since 1980, although convergence between countries has continued … behind income convergence are analized by means of the decomposition of per capita income in labor productivity and …

(losses) on the change in the components of real domestic expenditure, as well as on real income convergence within the EU … achieved significant gains in their ToT, the convergence in terms of per capita real domestic income was steeper than what is … indicated by per capita GPP within the EU. Hungary's convergence is well below its potential in both respects, but the lag …

, in the longer run, convergence in real income levels goes together with convergence in price levels. Although the cross … factors to 'nominal convergence'. The decomposition may be performed by drawing on two statistical sources, providing …. However, both statistics suggest that the rapid 'nominal convergence' of the Central and East European member-states between …