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Convergence in GDP per Capita in the Euro Area and the EU at the Time of COVID-19

Licchetta, Mirko; Mattozzi, Giovanni - In: Intereconomics 58 (2023) 1, pp. 43-51

This paper investigates determinants of convergence in GDP per capita in the euro area and the EU between 1995 and 2021. It finds that the COVID-19 crisis temporarily slowed convergence but the estimated negative impact is significantly smaller than during the global financial crisis. Diverging...

Persistent link: https://www.econbiz.de/10014334683

Adjusting to the euro

Fagan, Gabriel; Gaspar, Vítor - 2007

In this paper we argue that, for a group of converging economies of the European Union, participation in the euro area has been associated with easier access to financing by domestic economic agents. Easier access to financing was a significant impulse leading to a sharp increase in households'...

Persistent link: https://www.econbiz.de/10011604762

Convergence and anchoring of yield curves in the euro area

Ehrmann, Michael; Fratzscher, Marcel; Gürkaynak, Refet S. - 2007

We study the convergence of European bond markets and the anchoring of inflation expectations in euro area countries using high-frequency bond yield data for France, Germany, Italy and Spain. We find that Economic and Monetary Union (EMU) has led to substantial convergence in euro area sovereign...

Persistent link: https://www.econbiz.de/10011604863

Macroeconomic adjustment to monetary union

Fagan, Gabriel; Gaspar, Vítor - 2008

The move to monetary union in Europe led to convergence of interest rates among the participating countries. This was associated with notable cross-country differences in the behaviour of key macroeconomic aggregates. Compared to the low interest rate countries, former high interest rate...

Persistent link: https://www.econbiz.de/10011604992

Measuring the Business Cycle Similarity and Convergence Trends in the CEECs Towards the Eurozone with Respect to some Unclear Methodological Aspects

Rozmahel, Petr - 2009

discussion on the process of joining the Eurozone by the Czech Republic and other candidate countries. The paper provides an …. Measures of business cycle similarity are ordinarily used to evaluate preparedness of candidate countries to join the Eurozone …. The results indicate continuing convergence of the business cycle similarity between the candidate and Eurozone member …

Persistent link: https://www.econbiz.de/10011435274

The impact of the euro on financial markets

Cappiello, Lorenzo; Hördahl, Peter; Kadareja, Arjan; … - 2006

We assess whether the euro had an impact first on the degree of integration of European financial markets, and, second, on the euro area term structure. We propose two methodologies to measure integration: one relies on time-varying GARCH correlations, and the other one on a regression...

Persistent link: https://www.econbiz.de/10011604644

What effects is EMU having on the euro area and its member countries? An overview

Mongelli, Francesco Paolo; Vega, Juan Luis - 2006

This paper addresses the effects of the European Economic and Monetary Union (EMU) since the introduction of the euro -- on economic and financial structures, institutions and performance. What type of changes is the euro fostering? What forces is it setting in motion that were not there before?...

Persistent link: https://www.econbiz.de/10011604645

Business cycle synchronization and insurance mechanisms in the EU

Afonso, António; Furceri, Davide - 2007

In this paper we provide a positive exercise on past business-cycle correlations and risk sharing in the European Union, and on the ability of insurance mechanisms and fiscal policies to smooth income fluctuations. The results suggest in particular that while some of the new Member States have...

Persistent link: https://www.econbiz.de/10011604890

Determinants of inflation and price level differentials across the euro area countries

Andersson, Malin; Masuch, Klaus; Schiffbauer, Marc - 2009

This paper analyses the determinants of inflation differentials and price levels across the euro area countries. Dynamic panel estimations for the period 1999-2006 show that inflation differentials are primarily determined by cyclical positions and inflation persistence. The persistence in...

Persistent link: https://www.econbiz.de/10011605175

Überwachung der Wettbewerbsfähigkeit in der Europäischen Wirtschafts- und Währungsunion

Hallwirth, Volker - In: Wirtschaftsdienst 94 (2014) 11, pp. 798-805

Ziel des Europäischen Verfahrens zur Vermeidung und Korrektur makroökonomischer Ungleichgewichte ist es, gesamtwirtschaftliche Fehlentwicklungen in der EU und im Euroraum frühzeitig zu erkennen und zu korrigieren. Wie sind die bisherigen Erfahrungen mit diesem Prozess und wie kann er noch...

Persistent link: https://www.econbiz.de/10011617630

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