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Are Euro Area Economic Structures Changing?

In: The Euro and the Crisis

Author

Listed:
  • Francesco Paolo Mongelli

    (European Central Bank (ECB) and Goethe University)

  • Georgios Papadopoulos

    (European Central Bank (ECB))

  • Elisa Reinhold

    (European Central Bank (ECB))

Abstract

Euro area countries have exhibited modest convergence prior to the financial crisis, but have started to follow diverging paths thereafter. Such divergence has been examined from many angles, and diverse narratives of the crisis have developed. Surprisingly, the gradual transformation of economic structures of euro area countries over the last 15–20 years has instead received less attention. This chapter presents evidence of ongoing changes in the allocation of countries’ resources across sectors. Some of such changes even preceded the launch of the euro.

Suggested Citation

  • Francesco Paolo Mongelli & Georgios Papadopoulos & Elisa Reinhold, 2017. "Are Euro Area Economic Structures Changing?," Financial and Monetary Policy Studies, in: Nazaré da Costa Cabral & José Renato Gonçalves & Nuno Cunha Rodrigues (ed.), The Euro and the Crisis, pages 47-72, Springer.
    • Handle: RePEc:spr:fimchp:978-3-319-45710-9_5
    DOI: 10.1007/978-3-319-45710-9_5
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