Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/103169
Authors: 
Dullien, Sebastian
Fritsche, Ulrich
Year of Publication: 
2007
Series/Report no.: 
DEP (Socioeconomics) Discussion Papers, Macroeconomics and Finance Series 2/2007
Abstract: 
Using unit labor cost (ULC) data from Euro area countries as well as US States and German Laender we investigate inflation convergence using different approaches, namely panel unit root tests, cointegration tests and error-correction models. All in all we cannot reject convergence of ULC growth in EMU, however, country-specific deviations from the rest of the currency union are more pronounced in Europe and more persistent. This holds before and after the introduction of the common currency.
Subjects: 
Unit labor costs
inflation
EMU
convergence
panel unit root tests
convergence clubs
JEL: 
E31
O47
C32
Document Type: 
Working Paper

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