Despite the significant academic interest in the economic cohesion, the various aspects of convergence and the ways they can be measured still remain theoretically unclear. These are issues of extreme political significance, especially for countries aspiring for EU and euro area membership. The...

In the euro area, there is mixed evidence that the GDP per capita of lower-income economies has been catching up with that of higher-income economies since the start of monetary union. The significant real convergence performance of some of the most recent members contrasts with that of the...

In our analysis, we re-examine the nominal and real convergence of all recent ten European Union (EU) members to EU standards. Testing for monetary convergence has significant implications for interim optimal exchange rate and monetary policies before a formal and permanent link to the euro,...

Die exzessiven Wechselkursschwankungen sind ein empirisch beobachtbares Phänomen, das Anfang der 1970er Jahre, insbesondere nach dem Zusammenbruch des Bretton-Woods-Systems mit festen Wechselkursen, stark an Bedeutung gewonnen hat. Die Entwicklung der Wechselkurse scheint seitdem von der...