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 … Maastricht inflation criterion which as currently defined has lost its economic logic. -- euro area enlargement ; convergence …

and timing of euro adoption. We investigate 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 … logic. -- euro area ; convergence ; exchange rate ; inflation …