Convergence or Divergence in Europe?

Growth and Business Cycles in France, Germany and Italy

  • Olivier de Bandt
  • Heinz Herrmann
  • Giuseppe Parigi

Table of contents

  1. Front Matter
    Pages i-xiii
  2. General Conclusions

    1. Front Matter
      Pages 1-1
    2. Heinz Herrmann, Jörg Döpke
      Pages 17-25
    3. Olivier de Bandt, Jean-Pierre Villetelle
      Pages 41-46
    4. Anton Brender, Jean Pisani-Ferry, Domenico Giannone, Riccardo Faini
      Pages 47-59
  3. Measuring Cycles

    1. Front Matter
      Pages 61-61
  4. Supply Side

    1. Front Matter
      Pages 121-121
    2. Antonio Bassanetti, Jörg Döpke, Roberto Torrini, Roberta Zizza
      Pages 123-159
    3. Mustapha Baghli, Christophe Cahn, Jean-Pierre Villetelle
      Pages 161-183
  5. Demand Side

  6. External Side

    1. Front Matter
      Pages 289-289
    2. Alberto Felettigh, Rémy Lecat, Bertrand Pluyaud, Roberto Tedeschi
      Pages 291-323

About this book

Introduction

Against the background of the introduction of the euro in 1999, France, Germany and Italy have recently experienced higher divergence in terms of GDP growth. Indeed, there is no consensus among economists regarding the effects of monetary union, which can lead either to more specialisation as in the United States, or to increasing intra-industry trade, hence higher co-movements. Based on a set of original papers produced by a team of economists from the three main National Central Banks of the euro area, presented to an International Conference held in Paris as well as the contributions of panel of leading economists, the book analyses the latest developments in three largest European economies in a broad perspective, using modern econometric techniques. One of the conclusions is that, while business cycles are more strongly correlated across the three countries, as evidenced by the common reaction to the 2001 slowdown, the three countries still exhibit differences in terms of long term growth.

Keywords

Asymmetries Business Cycles Euro Euro area Potential Growth growth

Authors and affiliations

  • Olivier de Bandt
    • 1
  • Heinz Herrmann
    • 2
  • Giuseppe Parigi
    • 3
  1. 1.46-1405 DGEI-DAMEPBanque de FranceParisFrance
  2. 2.ForschungszentrumDeutsche BundesbankFrankfurt/MainGermany
  3. 3.Servizio Studi Amministrazione CentraleBanca d’ItaliaRomaItalia

Bibliographic information

  • DOI https://doi.org/10.1007/3-540-32611-1
  • Copyright Information Springer Berlin · Heidelberg 2006
  • Publisher Name Springer, Berlin, Heidelberg
  • eBook Packages Business and Economics
  • Print ISBN 978-3-540-32610-6
  • Online ISBN 978-3-540-32611-3
  • About this book