In the Forum article “The Euro at 20: Still a Project Projected to Fail?” by Adalbert Winkler in Intereconomics, Vol. 54, No. 2, 2019, p. 90-95, DOI: 10.1007/s10272-019-0800-9, Table 1 and Figure 2 contain incorrect data. The adjustments appear here.
Intereconomics regrets this inconvenience.
Difference-in-difference: Euro area versus the United States
|Pre- and post-euro periods
|The pre-euro decade
(1998-1991) versus the 1980s
euro decade (2009-1999) versus the pre-euro decade (1998-1991)
euro decade (2018-2010) versus the first euro decade (2009-1999)
|Inflation (% p.a.)||-0.0161||-0.0229||-0.0038||0.0006|
|Gross government debt-to-GDP ratio (change in percentage points)||-46.02||21.84||-35.40||2.94|
|GDP growth (% p.a.)||0.0045||-0.0007||0.0060||-0.0023|
|Unemployment rate (average in %)||0.65||2.07||-0.76||0.59|
Source: Author’s calculation based on IMF data.
Average GDP per capita growth in Euro Area Member States (% p.a.): difference-in-difference to the US and an average of selected mature non-euro area (NEA) countries (1998-1992 vs. 1991-1981; 2009-1999 vs. 1998-1992; 2018-2010 vs. 2009-1999)
Source: Author’s compilation based on IMF data. Euro area aggregates for unemployment (before 1991) and inflation (before 1992) are calculated based on individual EAMS data (the original EAMS + Greece) weighted by the respective EAMS population share; for GDP growth (before 1992) and government debt-to-GDP (before 1995) the weighting is performed by using the respective EAMS shares in total GDP.