Generalized purchasing power parity and the case of the European Union as a successful currency area

2000 ◽  
Vol 28 (4) ◽  
pp. 385-395 ◽  
Author(s):  
David J. Bernstein
Keyword(s):  
European Union ◽  
Purchasing Power Parity ◽  
Purchasing Power ◽  
The European Union ◽  
Power Parity ◽  
Currency Area

The effects of the economic crisis on income convergence in the European Union

2012 ◽  
Vol 62 (2) ◽  
pp. 161-182 ◽  
Author(s):  
Nenad Stanišić
Keyword(s):  
European Union ◽  
Economic Crisis ◽  
Purchasing Power Parity ◽  
Gdp Per Capita ◽  
The European Union ◽  
Income Convergence ◽  
Power Parity ◽  
Trade Theory ◽  
Per Capita

This paper evaluates income convergence in the European Union, between “old” (EU15) and “new” member states from Central and East Europe (CEE10), and among the countries within these two groups. The GDP per capita convergence should be expected according to the exogenous economic growth model and neoclassical trade theory. The presence of σ-convergence and both absolute and conditional β-convergence is tested for on a sample of 25 European Union countries (EU25). Results confirm the existence of β-convergence of GDP per capita at purchasing power parity among EU25, but not among EU15 and CEE10 countries. σ-convergence has been confirmed among EU25 and CEE10 countries, while GDP per capita has been diverging in the EU15 group of countries. Moreover, the results reveal that recent economic crisis has reversed long-term tendencies and led to income convergence within EU15 and divergence within CEE10. During the crisis, the income differences among the EU25 countries have increased, but the scope and duration of this effect has been limited and has not affected the long term convergence path. However, the obtained long term speed of convergence is significantly lower compared with the previous researches.

European Union-28: An annualised cost-of-illness model for venous thromboembolism

2016 ◽  
Vol 115 (04) ◽  
pp. 800-808 ◽  
Author(s):  
Stefano Barco ◽  
Alex L. Woersching ◽  
Alex C. Spyropoulos ◽  
Franco Piovella ◽  
Charles E. Mahan
Keyword(s):  
European Union ◽  
Venous Thromboembolism ◽  
Purchasing Power Parity ◽  
Indirect Costs ◽  
The United States ◽  
Cost Models ◽  
The European Union ◽  
Power Parity ◽  
Total Hospital ◽  
Illness Model

SummaryAnnual costs for venous thromboembolism (VTE) have been defined within the United States (US) demonstrating a large opportunity for cost savings. Costs for the European Union-28 (EU-28) have never been defined. A literature search was conducted to evaluate EU-28 cost sources. Median costs were defined for each cost input and costs were inflated to 2014 Euros (€) in the study country and adjusted for Purchasing Power Parity between EU countries. Adjusted costs were used to populate previously published cost-models based on adult incidence-based events. In the base model, annual expenditures for total, hospital-associated, preventable, and indirect costs were €1.5–2.2 billion, €1.0–1.5 billion, €0.5–1.1 billion and €0.2–0.3 billion, respectively (indirect costs: 12 % of expenditures). In the long-term attack rate model, total, hospital-associated, preventable, and indirect costs were €1.8–3.3 billion, €1.2–2.4 billion, €0.6–1.8 billion and €0.2–0.7 billion (indirect costs: 13 % of expenditures). In the multiway sensitivity analysis, annual expenditures for total, hospital-associated, preventable, and indirect costs were €3.0–8.5 billion, €2.2–6.2 billion, €1.1–4.6 billion and €0.5–1.4 billion (indirect costs: 22 % of expenditures). When the value of a premature life-lost increased slightly, aggregate costs rose considerably since these costs are higher than the direct medical costs. When evaluating the models aggregately for costs, the results suggests total, hospital-associated, preventable, and indirect costs ranging from €1.5–13.2 billion, €1.0–9.7 billion, €0.5–7.3 billion and €0.2–6.1 billion, respectively. Our study demonstrates that VTE costs have a large financial impact upon the EU-28’s healthcare systems and that significant savings could be realised if better preventive measures are applied.

Extended generalized purchasing power parity and optimum currency area in East Asian countries

2010 ◽  
Vol 42 (4) ◽  
pp. 497-513 ◽  
Author(s):  
Poomthan Rangkakulnuwat ◽  
Sung Ahn ◽  
Holly Wang ◽  
Susan He
Keyword(s):  
Purchasing Power Parity ◽  
East Asian ◽  
Optimum Currency Area ◽  
Purchasing Power ◽  
Asian Countries ◽  
Power Parity ◽  
Currency Area ◽  
Optimum Currency

scholarly journals The Catching up Processes of the Regions of the Visegrad Group Countries

2018 ◽  
Vol 21 (4) ◽  
pp. 5-24 ◽  
Author(s):  
Imre Lengyel ◽  
Balázs Kotosz
Keyword(s):  
European Union ◽  
Purchasing Power Parity ◽  
Eastern European ◽  
The European Union ◽  
Power Parity ◽  
Member States ◽  
Structural Funds ◽  
Catching Up ◽  
Visegrad Group

The majority of Central and Eastern European post‑socialist countries acceded to the European Union in 2004. The integration of these economies to the Union had begun earlier, which was strengthened by grants from the Structural Funds after the accession. One of their aims is to facilitate the catching up processes of less developed regions and their convergence to the average of older member states. In our study1, we examine the success of the catching up processes of the NUTS3 regions in the four Visegrad Group countries (V4), i.e., the Czech Republic, Hungary, Poland and Slovakia, between 2000 and 2014 to the average of the 15 initial member states of the European Union. Is there a process of catching up in each region, and if so, is it at a similar or a highly different rate? We analyze the development of GDP per capita at Purchasing Power Parity, and we examine disparities in the level of catching up using entropy‑based Theil indexes. We provide a detailed analysis of two of the influencing factors of the catching up process of regions. Firstly, we look at whether the catching up process of the regions took place in a similar or very different way compared to the national average. Secondly, we examine how the size of the biggest city of the regions affected catching up, and whether the role of the biggest city of region can be shown.

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