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Regional Convergence and Catch-up in India between 1960 and 1992

Trivedi, Kamakshya - Department of Economics, Oxford University - 2002

This paper examines the evidence for regional convergence or catch-up in levels and growth rates of per capita income …, Re-Weighted Least Squares, and Least Trimmed Squares - establish that unconditional convergence in growth rates does not … obtain, but that there is clear and robust evidence of conditional convergence. This suggests that important differences …

Persistent link: https://www.econbiz.de/10010605213

Educational Human Capital and Levels of Income: Evidence from States in India, 1965-92

Trivedi, Kamakshya - Department of Economics, Oxford University - 2002

This paper examines the long-run (steady-state) relationship between levels of educational human capital and levels of income for the 15 major states of India between 1965 and 1992. The relationship is estimated using the Pooled Mean Groups (PMG) technique; which produces common long-run...

Persistent link: https://www.econbiz.de/10010605295

Government Spending Shocks and the Multiplier: New Evidence from the U.S. Based on Natural Disasters

Yang, Weonho; Fidrmuc, Jan; Ghosh, Sugata - CESifo - 2012

The literature on estimating macroeconomic effects of fiscal policy requires suitable instruments to identify exogenous and unanticipated spending shocks. So far, the instrument of choice has been military build-ups. This instrument, however, largely limits the analysis to the US as few other...

Persistent link: https://www.econbiz.de/10010877863

Revisiting the Narrative Approach of Estimating Tax Multipliers

Hebous, Shafik; Zimmermann, Tom - CESifo - 2014

A number of recent studies regress a “narratively” identified measure of a macroeconomic shock directly on an outcome variable. In this note, we argue that this approach can be viewed as the reduced-form regression of an instrumental variable approach in which the narrative time series is...

Persistent link: https://www.econbiz.de/10010948895

Macroeconomic Effects of Fiscal Adjustment: A Tale of two Approaches

Yang, Weonho; Fidrmuc, Jan; Ghosh, Sugata - CESifo - 2013

We investigate the short-term effects of fiscal adjustment on economic activity in 20 OECD countries from 1970 to 2009. We compare two approaches: the traditional approach based on changes in cyclically adjusted primary balance (CAPB) and the narrative approach based on historical records....

Persistent link: https://www.econbiz.de/10010693461

Rich States, Poor States: Convergence and Polarisation in India

Bandyopadhyay, Sanghamitra - Department of Economics, Oxford University - 2006

convergence clubs at 50% and 125% of the national average income. Disparities across the states declined over the sixties and then … education, irrigation and literacy in the formation of the lower convergence club. Parametric analysis establishes irrigation …

Persistent link: https://www.econbiz.de/10005047726

Macroeconomic Effects of Government Spending Shocks: New Evidence Using Natural Disaster Relief in Korea

Yang, Weonho; Fidrmuc, Jan; Ghosh, Sugata - CESifo - 2012

We investigate the macroeconomic effects of government spending shocks in Korea. We compare results obtained with two alternative approaches: the narrative approach and Structural Vector-Autoregressive model (SVAR). We propose a new methodology for identifying exogenous and unexpected fiscal...

Persistent link: https://www.econbiz.de/10010578151

What are the Effects of Tax Changes in the United Kingdom? New Evidence from a Narrative Evaluation

Cloyne, James - CESifo - 2011

This paper estimates the effects of tax changes on the U.K. economy. Identification is achieved by isolating the ‘exogenous’ tax policy shocks in the post-war U.K. economy using a narrative strategy as in Romer and Romer (2010). The resulting tax changes are shown to be unforecastable on the...

Persistent link: https://www.econbiz.de/10009020785