See F. F. Heinz and M. Ward-Warmedinger, “Cross-  2  BIS Review 65/2007  iv)  As a fourth feature, economic integration and convergence is also reflected in the fact that current inflation and output growth differences among euro area countries are relatively limited by historical standards.
The differences also appear to be similar to those observed across regions or states within the United States. 7 I understand that some observers may like to create headline news from the differences in economic growth or inflation between some euro area countries in a specific quarter or year.