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A meta-analysis of beta-convergence : the legendary two-percent

Abreu, Maria; Groot, Henri L. F. de; Florax, Raymond J. … - 2005

The topic of convergence is at the heart of a wide-ranging debate in the growth literature. Empirical studies of … convergence differ widely in their theoretical backgrounds, empirical specifications and in their treatment of cross …-sectional heterogeneity. Despite these differences, a rate of convergence of about 2% has been found under a variety of different conditions …

Persistent link: https://www.econbiz.de/10011342545

Global aging and economic convergence : a real option or still a case of science fiction?

Dalen, Hendrik P. van - 2007

How does global aging affect the convergence in global economic development? Both the developing and developed world …

Persistent link: https://www.econbiz.de/10011372996

Defining European wholesale electricity markets : an "and/or" approach

Dijkgraaf, Elbert; Janssen, Maarten C. W. - 2009

An important question in the dynamic European wholesale markets for electricity is whether to define the geographical market at the level of an individual member state or more broadly. We show that if we currently take the traditional approach by considering for each member state whether there...

Persistent link: https://www.econbiz.de/10011378953

Adjustment in EMU : is convergence assured?

Dullien, Sebastian; Fritsche, Ulrich; Größl, Ingrid; … - 2009

Using a modified version of the model presented by Belke and Gros (2007), we analyze the stability of adjustment in a currency union. Using econometric estimates for parameter values we check the stability conditions for the 11 original EMU countries and Greece. We found significant instability...

Persistent link: https://www.econbiz.de/10010425867

Does the dispersion of unit labor cost dynamics in the EMU imply long-run divergence? : results from a comparison with the United States of America and Germany

Dullien, Sebastian; Fritsche, Ulrich - 2007

inflation convergence using different approaches, namely panel unit root tests, cointegration tests and error-correction models …. All in all we cannot reject convergence of ULC growth in EMU, however, country-specific deviations from the rest of the …

Persistent link: https://www.econbiz.de/10010426361

Unit labor cost growth differentials in the Euro area, Germany, and the US : lessons from PANIC and cluster analysis

Fritsche, Ulrich; Kuzin, Vladimir - 2007

area, and narrower differences in labour productivity growth (Alvarez et al., 2006). We investigate convergence of … are much less important in explaining the variance of ULC growth. We report evidence for convergence clusters in all …

Persistent link: https://www.econbiz.de/10010426362

How bad is divergence in the Euro-zone? : lessons from the United States of America and Germany

Dullien, Sebastian; Fritsche, Ulrich - 2006 - This version: October 06

This paper compares relative unit labour cost developments in the countries of the euro-area since the beginning of the European Monetary Union (EMU) both with historical developments and with intra-regional unit labour cost developments in the United States of America and Germany. To this end,...

Persistent link: https://www.econbiz.de/10010426369

Productivity convergence in OECD manufacturing industries

Carree, Martin Anthony; Klomp, Luuk; Thurik, Adriaan R. - 1999

The extent of beta- and sigma-convergence of average labor productivity across manufacturing industries in 18 OECD … correlated with the extent of convergence. …

Persistent link: https://www.econbiz.de/10011302139

Growth and risk : methodology and micro evidence

Elbers, Chris; Gunning, Jan Willem; Kinsey, Bill H. - 2006 - Rev.

There has been a revival of interest in the effect of risk on economic growth. We quantify both ex ante and ex post effects of risk using a stochastic version of the Ramsey model. We develop a simulation-based econometric methodology which allows us to estimate the model in the structural form...

Persistent link: https://www.econbiz.de/10011334326

International comparisons of sectoral energy- and labour-productivity performance : stylised facts and decomposition of trends

Mulder, Peter; Groot, Henri L. F. de - 2004

This paper addresses the interplay between economic growth, energy use, change in sectoral composition and technological change, by exploring trends in energy- and labour productivity development for 14 OECD countries and four sectors over the period 1970-1997. A cross-country decomposition...

Persistent link: https://www.econbiz.de/10011334856