scholarly journals Price levels convergence of consumer expenditures in the European Union 

2012 ◽  
Vol 52 (No. 5) ◽  
pp. 197-204
Author(s):  
M. Ševela
Keyword(s):  
European Union ◽  
Rate Of Convergence ◽  
Price Level ◽  
Initial Position ◽  
The European Union ◽  
Baltic Countries ◽  
Price Levels ◽  
Real Convergence ◽  
Convergence Process ◽  
Consumer Expenditures

The convergence of price levels is one of the important aspects of a real convergence and is often viewed as a criterion for the evaluation of preparedness. The convergence process of comparative price levels can run either through the exchange rate channel and/or that of nominal prices. The paper is focused on the assessment of comparative price levels and the rate of their convergence in the enlarged European Union within the period of 1999–2003. With the exception of Cyprus, the price levels in the new EU member countries were significantly lower. The greatest differences from the price level of EU countries existed in Poland, Slovakia and Baltic countries. The new member countries differ also in the rate of convergence. When combining their initial position and the rate of convergence, it can be concluded that all countries will be able to reach 80% of the comparative price level of the European Union till the year 2010. In Poland, the development is very unfavourable because its price level will reach only 55% provided that there will be no changes in its development. 

scholarly journals REAL CONVERGENCE OF BOSNIA AND HERZEGOVINA TOWARDS THE EUROPEAN UNION

2017 ◽  
Vol 7 (2) ◽  
pp. 51-58
Author(s):  
Hasan Mahmutović ◽  
◽  
Alem Merdić ◽  
Keyword(s):  
European Union ◽  
Bosnia And Herzegovina ◽  
Coefficient Of Variation ◽  
Price Level ◽  
The European Union ◽  
Eu Membership ◽  
Real Convergence ◽  
Sigma Convergence ◽  
The Eu ◽  
Economic Criteria

The entire process of Bosnia and Herzegovina's path to European integration so far, is mostly limited to the problems of achieving political consensus, neglecting the essence and purpose of the integration process, which is primarily reflected in achieving the real convergence of Bosnia and Herzegovina towards the EU. The absence of real convergence, and adequate preparation in terms of competitiveness of the economy of Bosnia and Herzegovina for the EU membership, can cause negative effects of integration.Considering that there has not yet been written any paper that questions the lack of real convergence, primarily GDP p.c., and that a complete analysis of economic criteria is reduced to the Progress Reports of Bosnia and Herzegovina towards the EU, which summarize the fulfillment of the economic criteria of Bosnia and Herzegovina for the EU membership without concrete suggestions for improvement, this paper analyzes the real convergence of Bosnia and Herzegovina towards the European Union, observed through the income level p.c., prices and productivity of the labor force.The analysis showed that there is a sigma convergence of Bosnia and Herzegovina towards the EU in the movement of GDP p.c., which is reflected in the reduction of the coefficient of variation of the observed parameter in the period from 2000 to 2015 from 89.8% to 85.3%, which is a decrease in the coefficient of variation for 4 , 5 p.p. for 16 years.In the observed period there was an increase in the absolute GDP p.c. gap, which means that Bosnia and Herzegovina must increase the rate of economic growth in the coming period, in order to stop the relative decrease in the standard of living in relation to the EU.In addition, the analysis of sigma convergence has shown that there are sigma divergent trends in the movement of productivity and price level of Bosnia and Herzegovina in relation to productivity and price level at the EU level.It is expected that the price level in Bosnia and Herzegovina will increase in the coming period as a result of the activation of the Stabilization and Association Agreement and a higher degree of trade integration with the EU.

scholarly journals The Importance of the Sustainability of the Romanian Convergence Process to the Euro Zone

2018 ◽  
Vol 13 (3) ◽  
pp. 161-170
Author(s):  
Ioana Raluca Sbârcea
Keyword(s):  
European Union ◽  
Euro Area ◽  
The European Union ◽  
Convergence Criteria ◽  
Euro Zone ◽  
Euro Adoption ◽  
Real Convergence ◽  
Convergence Process ◽  
The Moment

Abstract Since 2007, Romania has been under the under the glance of experts in the European Union, but also under the strict monitoring of the NBR and also under the pressure of citizens and investors' expectations about the moment of euro adoption. My research concerns have also been channeled to this point of maximum interest, impact and timeliness, which is why I have proposed through this paper to highlight a synthetic situation regarding the fulfillment of the convergence criteria from the moment of accession to the European Union, to the present. The objective of this paper is to reflect, in dynamics and correlation, the degree of fulfillment of the nominal and real convergence criteria, the sustainability of the levels achieved for certain indicators, so necessary for joining the single currency, without shocks. Romania is a country subject to frequent fluctuations at all levels: economic, political, legislative, also reflected in the fluctuations in meeting the convergence criteria. The lack of medium and long-term sustainability of the criteria considered necessary for joining the euro area will make this desiderate ever more remote.

Regional Allocation of Structural Funds in the European Union

10.1068/c21m ◽  
2002 ◽  
Vol 20 (5) ◽  
pp. 655-677 ◽  
Author(s):  
Carlos Gil ◽  
Pedro Pascual ◽  
Manuel Rapún
Keyword(s):  
European Union ◽  
Theoretical Foundation ◽  
Equal Opportunities ◽  
The European Union ◽  
Distribution Problem ◽  
Structural Funds ◽  
Empirical Procedure ◽  
Real Convergence ◽  
Real Distribution ◽  
Nonlinear Programming Method

Economic disparities among the regions of the European Union are more pronounced than among countries. Structural Funds have played a crucial compensatory role, promoting the economic development and real convergence of lagging regions. The amount of resources destined to regional policy and the conflicts arising from its funding and distribution create the need for an adequate theoretical foundation or model to help politicians solve the distribution problem. In this paper we propose an empirical procedure to carry out and evaluate different distributions of funds for the periods 1989 – 93 and 1994 – 99. We begin with the estimation of an augmented production function to permit the calculation of the expected GDP per capita. We then propose a nonlinear programming method to simulate alternative distributions of Structural Funds among Objective 1 regions, based upon two different approaches: equal development, and equal opportunities. For these two approaches we calculate different possibilities, ranging from highly efficient to highly equitable, with the result that we are able to show the ‘frontier’ of optimal distributions. Finally, we evaluate these results and compare them with the real distribution.

scholarly journals The Impact of the Common Agricultural Policy of the European Union on the General Price Level of Countries that Joined in the Period from 2004 to 2007

2019 ◽  
Vol 57 (2) ◽  
pp. 233-255
Author(s):  
Ivana Stojanović
Keyword(s):  
European Union ◽  
Agricultural Policy ◽  
Common Agricultural Policy ◽  
Price Level ◽  
Agricultural Product ◽  
The European Union ◽  
General Price Level ◽  
The Common ◽  
The Impact ◽  
The Eu

AbstractApplication of The Common Agricultural Policy (CAP) of the European Union implies the existence of a single market (without customs duties on mutual trade), the community’s priority in meeting the needs for agricultural products (protection against imports) and the existence of financial solidarity (joint financing). Joining the European Union for new member states implies the termination of the implementation of the existing national agricultural policy and the the beginning of the implementation of the CAP. Although membership in the European Union implies many advantages, the period after joining this community can be quite economically unstable for some countries. One of the most significant problems is an increase in agricultural product prices and a rise in the general price level (inflation). The above can be confirmed by a simple empirical analysis of the economic indicators of the countries that joined the EU together in the period from 2004 until 2007.

scholarly journals A GENETIC PROGRAMMING APPROACH FOR ESTIMATING ECONOMIC SENTIMENT IN THE BALTIC COUNTRIES AND THE EUROPEAN UNION

2021 ◽  
Vol 27 (1) ◽  
pp. 262-279
Author(s):  
Oscar Claveria ◽  
Enric Monte ◽  
Salvador Torra
Keyword(s):  
European Union ◽  
Fitness Function ◽  
Predictive Performance ◽  
Programming Approach ◽  
Gdp Growth ◽  
The European Union ◽  
Baltic Countries ◽  
Non Linear ◽  
Out Of Sample ◽  
The Baltic

In this study, we introduce a sentiment construction method based on the evolution of survey-based indicators. We make use of genetic algorithms to evolve qualitative expectations in order to generate country-specific empirical economic sentiment indicators in the three Baltic republics and the European Union. First, for each country we search for the non-linear combination of firms’ and households’ expectations that minimises a fitness function. Second, we compute the frequency with which each survey expectation appears in the evolved indicators and examine the lag structure per variable selected by the algorithm. The industry survey indicator with the highest predictive performance are production expectations, while in the case of the consumer survey the distribution between variables is multi-modal. Third, we evaluate the out-of-sample predictive performance of the generated indicators, obtaining more accurate estimates of year-on-year GDP growth rates than with the scaled industrial and consumer confidence indicators. Finally, we use non-linear constrained optimisation to combine the evolved expectations of firms and consumers and generate aggregate expectations of of year-on-year GDP growth. We find that, in most cases, aggregate expectations outperform recursive autoregressive predictions of economic growth.

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