Did the EMS encourage inflation convergence?

  • Víctor Manuel Montuenga-Gómez


This paper studies the convergence of inflation rates over the period of 1983–93 for some countries within the European Monetary System. Three different price indices are considered for consumer goods, services, and industrial products. This study focuses on the difference between core and peripheral countries for measuring convergence speed. By using β- and σ-convergence tools, as previously identified in studies on output growth convergence, it was found that the convergence process did not evolve equally whether considered through price indices, time, or countries.


Economic Growth Industrial Product International Economic Price Index Inflation Rate 
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Copyright information

© International Atlantic Economic Society 2002

Authors and Affiliations

  • Víctor Manuel Montuenga-Gómez
    • 1
  1. 1.Universidad de La RiojaSpain

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