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Productivity Convergence in Europe

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Author Info

  • Efthymios G. Tsionas

    ()
    (Council of Economic Advisers, Ministry of National Economy)

Abstract

The paper examines the convergence properties of productivity in fifteen European countries over the period 1960-1997. Empirical tests are performed for the "Maastricht proposition," according to which nominal convergence in rates of inflation is a prerequisite for real convergence. Modern econometric techniques for non-stationary time series, organized Around and cointegration analysis are used to examine within-group and between-group convergence. The number of common, long-run stochastic trends in productivity series is also examined. The results suggest strong evidence against unconditional or conditional convergence. However, European productivity time series can be described by a relatively small number of common long-run trends.

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File URL: http://college.holycross.edu/RePEc/eej/Archive/Volume26/V26N3P297_320.pdf
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Bibliographic Info

Article provided by Eastern Economic Association in its journal Eastern Economic Journal.

Volume (Year): 26 (2000)
Issue (Month): 3 (Summer)
Pages: 297-320

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Handle: RePEc:eej:eeconj:v:26:y:2000:i:3:p:297-320

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Postal: c/o Dr. Alexandre Olbrecht, The Anisfield School of Business 205, Ramapo College, 505 Ramapo Valley Road, Ramapo, New Jersey 07430, USA
Phone: (201) 684-7346
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Web page: http://www.ramapo.edu/eea/journal.html
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Related research

Keywords: Convergence; Productivity;

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Cited by:
  1. Tsionas, Efthymios G. & Christopoulos, Dimitris K., 2003. "Maastricht convergence and real convergence: European evidence from threshold and smooth transition regression models," Journal of Policy Modeling, Elsevier, vol. 25(1), pages 43-52, January.
  2. Sondermann, David, 2012. "Productivity in the euro area: any evidence of convergence?," Working Paper Series 1431, European Central Bank.
  3. Tsionas, Efthymios G., 2001. "P-STAR analysis in a converging economy: the case of Greece," Economic Modelling, Elsevier, vol. 18(1), pages 49-60, January.

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