While economic theory highlights the usefulness of flexible exchange rates in promoting adjustment in international relative prices, flexible exchange rates also can be a source of destabilizing ...

During a major crisis, the transitional dynamics of conditional convergence are unlikely to apply. In this paper, we introduce a Markov chain approach which integrates the study of crises and ...

This is a preview. Log in through your library . Abstract This paper examines the expansion of compulsory schooling in fifteen Western European countries over 1950-2000. We show that a convergence ...

Download PDF More Formats on IMF eLibrary Order a Print Copy Create Citation In the growth literature, evidence on income convergence is mixed. In the development literature, health and education ...

This study focuses on wage convergence among the member states of the European Union by addressing three important questions. First, is there average wage convergence in European Union regions? Second ...