Arbeitspapier
Does the Dispersion of Unit Labor Cost Dynamics in the EMU Imply Long-run Divergence? Results from a Comparison with the United States of America and Germany
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.
- Sprache
-
Englisch
- Erschienen in
-
Series: DEP (Socioeconomics) Discussion Papers - Macroeconomics and Finance Series ; No. 2/2007
- Klassifikation
-
Wirtschaft
Price Level; Inflation; Deflation
Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
Multiple or Simultaneous Equation Models: Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
- Thema
-
Unit labor costs
inflation
EMU
convergence
panel unit root tests
convergence clubs
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Dullien, Sebastian
Fritsche, Ulrich
- Ereignis
-
Veröffentlichung
- (wer)
-
Hamburg University, Department Economics and Politics
- (wo)
-
Hamburg
- (wann)
-
2007
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Dullien, Sebastian
- Fritsche, Ulrich
- Hamburg University, Department Economics and Politics
Entstanden
- 2007
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