标题：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.
期刊名称：DIW Diskussionspapiere / Deutsches Institut für Wirtschaftsforschung, Berlin
出版年度：2007
卷号：2007
出版社：Deutsches Institut für Wirtschaftsforschung, Berlin
摘要：Using unit labor cost (ULC) data from Euro area countries as well as US States
and German Länder we investigate inflation convergence using different
approaches, namely panel unit root tests, co-integration 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.
