Euro area structural convergence? A multi-criterion cluster analysis

Delphine Irac and Jimmy Lopez ()

International Economics, 2015, issue 143, 1-22

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 clusters of countries that are not modified between 1999 and 2012: 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-clusters? 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)
Date: 2015
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Related works:
Working Paper: Euro Area Structural Convergence? A Multi-Criterion Cluster Analysis (2015)
Working Paper: Euro area structural convergence? A multi-criterion cluster analysis (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:cii:cepiie:2015-q3-143-1

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