In this paper I discuss various notions and aspects of integration and macroeconomic convergence, namely economic and monetary integration; real and nominal convergence. The EU has offered a great deal of information about the relation between all these types of integration and macroeconomic...

Although euro area-wide inflation was from 1999 to 2005 almost right, i.e., "close to balance, but below 2%," and although it combined with real growth as predicted by the long-run money demand equation in the euro area, the picture that emerges at country level is more scattered. Inside a...

We investigate in this paper differences in productive efficiency across sixteen European countries. In order to assess differences in productive efficiency, we have built a dynamic input-output model and computed for each country the balanced growth rate and the balanced output composition....