What's so special about specialization in the euro area?

Francesco Mongelli, Elisa Reinhold and Georgios Papadopoulos

No 168, Occasional Paper Series from European Central Bank

Abstract: Euro area countries exhibited modest convergence prior to the financial crisis and diverged thereafter. Such divergence has been examined from many angles, and various narratives of the crisis have developed. Surprisingly, the gradual transformation of the economic structures of euro area countries over the last 15-20 years has, however, received less attention. This paper brings together several strands of evidence - both macro and micro - on such economic transformation. It makes three contributions. First, profound changes are found in the allocation of countries JEL Classification: E01, F45, J21, O47

Keywords: convergence; euro area; productivity; risk-sharing; specialisation (search for similar items in EconPapers)
Date: 2016-02
New Economics Papers: this item is included in nep-bec and nep-eec
Note: 1423663
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7)

Downloads: (external link)
https://www.ecb.europa.eu//pub/pdf/scpops/ecbop168.en.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ecb:ecbops:2016168

Access Statistics for this paper

More papers in Occasional Paper Series from European Central Bank 60640 Frankfurt am Main, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Official Publications ().