Ball, V. Eldon; Mesonada, Carlos San Juan; Ulloa, Camilo A. - Departamento de Economía, Universidad Carlos III de Madrid - 2011
This paper examines the relation between the business cycle and convergence in levels of total factor productivity (TFP) across states. First, we find evidence of convergence in TFP levels across the different phases of the business cycle, but the speed of convergence was much greater during...