Are Euro Area Economic Structures Changing?

Francesco Mongelli, Georgios Papadopoulos and Elisa Reinhold
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Elisa Reinhold: European Central Bank (ECB)

A chapter in The Euro and the Crisis, 2017, pp 47-72 from Springer

Abstract: Abstract Euro area countries have exhibited modest convergence prior to the financial crisis, but have started to follow diverging paths thereafter. Such divergence has been examined from many angles, and diverse narratives of the crisis have developed. Surprisingly, the gradual transformation of economic structures of euro area countries over the last 15–20 years has instead received less attention. This chapter presents evidence of ongoing changes in the allocation of countries’ resources across sectors. Some of such changes even preceded the launch of the euro.

Keywords: Euro area; Convergence; Specialisation; Productivity; Risk sharing; E01; F45; J21; O47 (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:spr:fimchp:978-3-319-45710-9_5

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DOI: 10.1007/978-3-319-45710-9_5

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