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Inflation convergence within the European Union: A panel data analysis

✍ Scribed by Evžen Kočenda; David H. Papell

Publisher: John Wiley and Sons
Year: 1997
Tongue: English
Weight: 134 KB
Volume: 2
Category: Article
ISSN: 1076-9307
DOI: 10.1002/(sici)1099-1158(199707)2:3<189::aid-ijfe46>3.0.co;2-6

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✦ Synopsis

This paper investigates the question of whether there exists evidence in support of in¯ation convergence within the European Union. The analysis also focuses on whether the Exchange Rate Mechanism (ERM) helped to accelerate in¯ation convergence in its member countries. The results of this paper are supportive of convergence. The countries which continuously participated in the narrow ERM bands show a dramatically higher convergence rate during the period following establishment of the mechanism.