Productivity growth and inflation in Europe: Evidence from panel cointegration tests

被引：12
|
作者：
Christopoulos, DK [1 ]
Tsionas, EG
机构：
[1] Panteion Univ, Dept Econ & Reg Dev, Athens 17671, Greece
[2] Athens Univ Econ & Business, Dept Econ, Athens, Greece
来源：
EMPIRICAL ECONOMICS | 2005年 / 30卷 / 01期
关键词：
productivity; inflation; panel unit roots; panel cointegration; European Monetary Union; convergence;
D O I：
10.1007/s00181-004-0227-3
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
In this paper we investigate the productivity growth - inflation nexus in fifteen European countries over the period 1961-1999 using panel unit root and panel cointegration tests. Emphasis is placed on the distinction between long-run and short-run causality using recently developed tests appropriate for heterogeneous panel. The empirical results are relevant for the role of the EMU and the Treaty of Maastricht in catching up, real convergence, and the future growth prospects of Europe. The policy implications of the findings are discussed in detail.
引用
收藏
页码：137 / 150
页数：14
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