Euro area structural convergence? A multi-criterion cluster analysis

D. Irac and Jimmy Lopez ()

Working papers from Banque de France

Abstract: This paper proposes a classification of the old member countries of the euro area in a structural data rich environment and run a convergence analysis using the same framework. First, we use a clustering approach and identify two structurally distinct groups of countries that are not modified between 1995 and 2007: the South Countries Group (SCG) composed of Greece, Italy, Portugal and Spain and the Other Countries Group (OCG). Second, we propose a convergence metrics and reach three key findings: (i) increase over time of the between-group dispersion; (ii) diverging demographics and innovation performance into the OCG, and (iii) an unfortunate convergence towards high labour market duality in the SCG.

Keywords: Cluster Analysis; European Monetary Union; Structural Policies. (search for similar items in EconPapers)
JEL-codes: C38 E02 F33 (search for similar items in EconPapers)
Pages: 26 pages
Date: 2013
New Economics Papers: this item is included in nep-eec and nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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Related works:
Journal Article: Euro area structural convergence? A multi-criterion cluster analysis (2015)
Working Paper: Euro Area Structural Convergence? A Multi-Criterion Cluster Analysis (2015)
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Persistent link: https://EconPapers.repec.org/RePEc:bfr:banfra:470

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