-economy income convergence. Where RCK predicts partial income and consumption convergence between open economies Solow predicts full … convergence. This paper presents, by a small modification of the savings behavior in the Solow model, a framework that matches RCK … country size; that income growth will be a U-shaped function of initial income thus creating differentiated convergence; and …

a decomposition of consumption responses into direct, indirect, average, and cross-sectional effects. We show that the …

This report revisits the growth and convergence performance of the 11 EU member states in Central, East and Southeast … growth. The findings show that convergence has significantly slowed since the global financial crisis, with value added …