Abstract
We study dynamic output co-movements in Europe in a spatial setting where proportion of human capital and its appropriation pattern in production define distance among countries. Significant spatial output and shock correlations are found suggesting possible welfare-enhancing cross-country policy coordination. (C) 2008 Elsevier B.V. All rights reserved.
Original language | English |
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Pages (from-to) | 181-184 |
Journal | ECONOMICS LETTERS |
Volume | 102 |
Issue number | 3 |
DOIs | |
Publication status | Published - 2009 |