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...

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...