We apply the Pesaran (2007) pair-wise approach of convergence to the per capita outputs of 195 European regions for the period 1980–2006. Pesaran's approach is based on the computation of the percentage ratio of output gaps which fulfil a given convergence criterion. A high ratio will be...

This article is concerned with modeling the dynamic and distributional properties of daily spot and forward electricity prices across European wholesale markets. Prices for forward contracts are extracted from a unique database from a major energy trader in Europe. Spot and forward returns are...

We apply Peseran (2007) pairwise approach of convergence to 195 European regions for the period 1980-2002. An index of convergence shows a decline in the average per capita output gap over the period, mainly by convergence between regions of different countries. Next, we estimate the share of...