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Heterogeneity in Convergence Rates and Income Determination across U.S. States: Evidence from County-Level Data

Young, Andrew; Higgins, Matthew; Levy, Daniel - EconWPA - 2004

convergence rate across the U.S. is about 7 percent per year – higher than the 2 percent normally found with OLS in cross …-country, U.S. state, and European region samples. Estimated convergence rates for 32 individual states are above 2 percent with … an average of 8.1 percent. For 29 states the convergence rate is above 2 percent with 95 percent confidence. For seven …

Persistent link: https://www.econbiz.de/10005118829

Sigma-Convergence Versus Beta-Convergence: Evidence from U.S. County-Level Data

Young, Andrew; Higgins, Matthew; Levy, Daniel - EconWPA - 2005

In this paper we outline (i) why ó-convergence may not accompany â- convergence, (ii)cite evidence of â-convergence in … the U.S., (iii) and use USA county-level data containing over 3,000 cross-sectional observations to demonstrate that ó-convergence …

Persistent link: https://www.econbiz.de/10005412590

Growth and Convergence across the US: Evidence from County-Level Data

Higgins, Matthew; Levy, Daniel; Young, Andrew - EconWPA - 2005

We use county data with 3,058 observations to study growth and convergence in the US. We assess the effect of 40 … convergence rates around 2 percent, but 3SLS yields 6–8 percent; (2) convergence rates vary across the U.S. E.g., Southern …

Persistent link: https://www.econbiz.de/10005412718

Growth and Convergence across the U.S: Evidence from County-Level Data

Higgins, Matthew; Levy, Daniel; Young, Andrew - EconWPA - 2005

We use U.S. county data (3,058 observations) and 41 conditioning variables to study growth and convergence. Using OLS … and 3SLS-IV we report on the full sample and metro, non-metro, and 5 regional samples: (1) OLS yields convergence rates … around 2 percent; 3SLS yields 6–8 percent; (2) convergence rates vary (e.g., the Southern rate is 2.5 times the Northeastern …

Persistent link: https://www.econbiz.de/10005076836

Many Types of Human Capital and Many Roles in U.S. Growth: Evidence from County-Level Educational Attainment Data

Young, Andrew; Levy, Daniel; Higgins, Matthew - EconWPA - 2004

We utilize county-level data to explore the roles of different types of human capital accumulation in U.S. growth determination. The data includes over 3,000 cross-sectional observations and 39 demographic control variables. The large number of observations provides enough degrees of freedom to...

Persistent link: https://www.econbiz.de/10005126012

Avoiding Debt Traps: Financial Backstops and Structural Reforms

Padoan, Pier Carlo; Sila, Urban; Noord, Paul van den - Economics Department, Organisation de Coopération et … - 2012

In this paper we develop a simple analytical framework to analyze “good” and “bad equilibria” in public-debt and growth dynamics. The “bad equilibrium” is characterised by the simultaneous occurrence, and adverse feedbacks between, high and growing fiscal deficits and debt, high risk...

Persistent link: https://www.econbiz.de/10011273966

Short-Term Pain for Long-Term Gain: The Impact of Structural Reform on Fiscal of Outcomes in EMU

Noord, Paul van den; Cournède, Boris - Economics Department, Organisation de Coopération et … - 2006

The 2005 reform of the EU Stability and Growth Pact has provided leeway for governments to let their fiscal deficit temporarily breach the 3% rule to finance the immediate budgetary cost of structural reform, such as compensation schemes to offset redistributive effects. Against this backdrop,...

Persistent link: https://www.econbiz.de/10005045584

Managing Public Expenditure: The UK Approach

Noord, Paul van den - Economics Department, Organisation de Coopération et … - 2002

The UK medium-term budgetary framework introduced in 1997 addressed a number of weaknesses of the former regime, notably a bias against capital expenditure and, more generally, poor conditions for longerterm planning adversely affecting central government spending departments, local authorities...

Persistent link: https://www.econbiz.de/10005045652

Managing Public Expenditure: Some Emerging Policy Issues and A Framework for Analysis

Atkinson, Paul; Noord, Paul van den - Economics Department, Organisation de Coopération et … - 2001

This paper highlights some key policy issues regarding the performance of public expenditure and proposes an analytical framework for its assessment. The framework distinguishes three economic objectives of policies in the pursuit of better performance of public expenditure: macroeconomic...

Persistent link: https://www.econbiz.de/10005045810

The Size and Role of Automatic Fiscal Stabilizers in the 1990s and Beyond

Noord, Paul van den - Economics Department, Organisation de Coopération et … - 2000

This paper assesses to what extent some components of government budgets affected by the macroeconomic situation operate to smooth the business cycle in individual OECD countries. It is shown that these automatic fiscal stabilisers have generally reduced cyclical volatility in the 1990s....

Persistent link: https://www.econbiz.de/10005045980