In view of the lack of area-wide regional price data, Aten and Heston (2005) adopted an econometric approach in estimating regional price level from an international perspective. At a regional level, however, spatial economic theory may contribute to advancement in explaining price level...

Convergence studies are concerned with the question of whether poor economies catch-up to wealthier economies over time. The regional convergence process in Europe has generated considerable interest in recent years. Because of financial straits regional convergence is a central question, since...

The indicators get different weights, when they are summarised to one figure. This weighting scheme is problematic for different reasons. On the one hand, the used transformations of the variables are non-permissible. On the other hand, the weighting of the indicators is not meaningful, because...