Against the commonly accepted view that in the run-up to EMU the Maastricht fiscal restraints were quite effective in … find that EMU fiscal rules show some weaknesses with respect to these guidelines. The authors also stress that the budget …

. All in all we cannot reject convergence of ULC growth in EMU, however, country-specific deviations from the rest of the …Using unit labor cost (ULC) data from Euro area countries as well as US States and German Länder we investigate … inflation convergence using different approaches, namely panel unit root tests, cointegration tests and error-correction models …