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Volume 54, May/June 2019, Number 3 · p. 193

Correction

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.

Table 1 (back to the text)
Difference-in-difference: Euro area versus the United States

Pre- and post-euro periods

(2018-1999) versus

(1998-1981)

The pre-euro decade

(1998-1991) versus the 1980s

(1990-1981)

The first

euro decade (2009-1999) versus the pre-euro decade (1998-1991)

The second

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.

Figure 2 (back to the text)
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.


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