We examine real business cycle convergence for 41 euro area regions and 48 US states. Results obtained by a panel model … ; spatial correlation ; spatial panel model …

omitted variable bias. A panel model allowing for spatial correlation is a convenient way to capture these effects. This …, regarding the size, the level of development, culture etc. The results obtained by a panel model with spatial effects indicate …

We examine real business cycle convergence for 41 euro area regions and 48 US states. Results obtained by a panel model …

unemployment. Empirical results focus on particular theoretical channels establishing the relationship. Panel models mostly draw on …