Monetary Union and the Economic Geography of Europe

Midelfart, Karen Helene; Overman, Henry G.; Venables, Anthony J.

doi:10.1111/j.1468-5965.2003.00466.x

Cited by 48 publications

(34 citation statements)

References 27 publications

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“…Bru¨lhart and Traeger (2005) find little support for the hypothesis that strong sectoral reallocation trends across economic activities have taken place between 1975 and 2000. Midelfart et al (2003) conclude that, while monetary unification increases specialization, the size and relevance of industry-specific shock is very small and does not raise the cost of monetary policy.…”

Section: Integration Specialization and Output Correlationmentioning

confidence: 88%

Financial Integration, GDP Correlation and the Endogeneity of Optimum Currency Areas

Schiavo

2005

SSRN Journal

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Section: Integration Specialization and Output Correlationmentioning

confidence: 88%

Financial Integration, GDP Correlation and the Endogeneity of Optimum Currency Areas

Schiavo

2005

SSRN Journal

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“…Intrasectoral divergence may particularly be promoted by European integration in the following cases: Industries, that exhibit increasing returns to scale, are likely to concentrate production in larger countries as large domestic markets can more easily attract industrial sectors than smaller domestic markets (Midelfart et al 2003). Similarly, a large number of upand downstream linkages in industries leads to a high level of concentration (or clustering) of economic activities, such as in the case in the automobile industry (Fujita et al 1999).…”

Section: Theoretical Framework and Literaturementioning

confidence: 99%

Structural convergence of European countries

Palan

Schmiedeberg

2010

Structural Change and Economic Dynamics

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in Abstract:Building on the three-sector-hypothesis, the New Theory of Trade, and the New Economic Geography, we investigate the development of economic structures of European countries over the last three decades using employment data. We test for structural convergence which we analyze on the aggregate level as well as specifically for manufacturing and service industries. For this we implement both time series and panel data methods. Our results indicate overall structural convergence between Western European countries over time. This is mainly due to strong intersectoral convergence patterns as countries shift from industrialized to service economies. In contrast, the results regarding intrasectoral convergence are mixed: Increasing spatial concentration in production is dominant in technology-intensive manufacturing industries which are characterized by economies of scale and path-dependency, whereas convergence is found in mature, less technology-intensive industries. In most service branches country-specific differences do not change to a significant extent with the exception of transport and storage services.

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“…4 Krugman and Venables (1996). 5 Midelfart et al (2003). 6 See Barros (2002), Barry (2003) and Cassidy (2004).…”

mentioning

confidence: 99%

The Portuguese Economy in the Irish Mirror, 1960–2004

Lains

2007

Open Econ Rev

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Monetary Union and the Economic Geography of Europe

Abstract: This is an electronic version of an Article published in the Journal of common market studies 41(5), pp. 847-868

Cited by 48 publications

References 27 publications

Financial Integration, GDP Correlation and the Endogeneity of Optimum Currency Areas

Financial Integration, GDP Correlation and the Endogeneity of Optimum Currency Areas

Structural convergence of European countries

The Portuguese Economy in the Irish Mirror, 1960–2004

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