Similarity and diversity in the EU periphery. A HERMIN-based investigation

We review the experience gained in the econometric estimation and simulation of the three HERMIN national models. The simple econometric approach we used shows interesting features that may indicate broad patterns of national behaviour rather than specific results in terms of sophisticated hypothesis testing. The responses of the models to a range of policy and other shocks are compared and contrasted, and have implications for the state and process of peripheral development.