• Mihaela Simionescu PhD Senior Researcher Institute for Economic Forecasting of the Romanian Academy
Keywords: inflation convergence, unit root tests, economic crisis, panel data, inflation, convergence rate


The aim of this research is to assess the convergence rate of the inflation in European Union 28 (EU-28) and to evaluate the impact of recent economic crisis on the convergence process in inflation. Therefore, a panel data approach was used, the unit root tests for stationary indicating enough evidence for convergence in the period from 2002 to 2013. However, a decline in the convergence process was observed during the economic crisis (2008-2013) compared to the previous period of the same length (2002-2007), the convergence rate decreasing with 3.98 percentage points.


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