Dimitris, Chrsitopoulos; Miguel, Leon-Ledesma - Volkswirtschaftliche Fakultät, … - 2009
We present time series evidence on output convergence for 14 countries relative to the US for the 1900-2000 period. We develop tests that allow for an unknown number of breaks in the series and also asymmetric convergence speed. We show that this asymmetry arises theoretically when the economy...