Stochastic convergence in real personal disposable income in the EU

Juan Cuestas, Mercedes Monfort () and Javier Ordóñez
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Mercedes Monfort: IEI and Department of Economics, Universitat Jaume I, Castellón, Spain

No 2020/09, Working Papers from Economics Department, Universitat Jaume I, Castellón (Spain)

Abstract: Economic convergence has long been a declared objective of the EU and has been considered the fundamental mechanism for achieving socio-economic cohesion. Even so, the empirical literature finds a lack of real convergence as geographical clusters have emerged. In this paper we contribute to the literature on income convergence in the EU by analysing convergence in real disposable income across European countries. In contrast to the previous results on real convergence in the EU, we find that most of the countries are converging to the same equilibrium level.

Keywords: Convergence; Europe; disposable income; cluster (search for similar items in EconPapers)
JEL-codes: C23 F15 (search for similar items in EconPapers)
Pages: 11 pages
Date: 2020
New Economics Papers: this item is included in nep-eec
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:jau:wpaper:2020/09

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