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Galton's Fallacy and Tests of the Convergence Hypothesis

Quah, Danny - C.E.P.R. Discussion Papers - 1993

Recent tests for the convergence hypothesis derive from regressing average growth rates on initial levels: a negative … initial level coefficient is interpreted as convergence. These tests turn out to be plagued by Francis Galton's classical … direct empirics used here show a tendency for divergence, rather than convergence, of cross-country incomes. …

Persistent link: https://www.econbiz.de/10005791236

Cross-Country Growth Comparison: Theory to Empirics

Quah, Danny - C.E.P.R. Discussion Papers - 1999

This paper reviews the cross-country record of economic growth, using as organizing framework how economic theory has guided that empirical analysis. The paper argues that recent studies of economic growth - both empirical and theoretical - distinguish from previous work in three distinct ways:...

Persistent link: https://www.econbiz.de/10005792232

Empirics for Growth and Distribution: Stratification, Polarization, and Convergence Clubs

Quah, Danny - C.E.P.R. Discussion Papers - 1997

peaks’ in the cross-sectional distribution, not simple patterns of convergence or divergence. The theoretical problems …

Persistent link: https://www.econbiz.de/10005792305

Spatial Agglomeration Dynamics

Quah, Danny - C.E.P.R. Discussion Papers - 2002

geography. The same economic forces influence simultaneously growth, convergence, and spatial agglomeration and clustering …

Persistent link: https://www.econbiz.de/10005136721

Convergence Empirics Across Economies with (Some) Capital Mobility

Quah, Danny - C.E.P.R. Discussion Papers - 1994

study of the convergence hypothesis. The data show limited intra-distribution mobility in incomes across economies and thus …, little convergence. The analysis uncovers some `convergence club'-like dynamics, and reveals the wide diversity in growth …

Persistent link: https://www.econbiz.de/10005661869

The Weightless Economy in Economic Development

Quah, Danny - C.E.P.R. Discussion Papers - 1999

Can the increasing significance of knowledge-products in national income---the growing weightless economy---influence economic development? Those technologies reduce ``distance'' between consumers and knowledge production. This paper analyzes a model embodying such a reduction. The model shows...

Persistent link: https://www.econbiz.de/10005791375

Economic and Political Liberalizations

Giavazzi, Francesco; Tabellini, Guido - C.E.P.R. Discussion Papers - 2004

This Paper studies empirically the effects of and the interactions amongst economic and political liberalizations. Economic liberalizations are measured by a widely used indicator that captures the scope of the market in the economy, and in particular of policies towards freer international...

Persistent link: https://www.econbiz.de/10005661576

How Large Are the Effects of Tax Changes?

Favero, Carlo A.; Giavazzi, Francesco - C.E.P.R. Discussion Papers - 2009

We use the time series of shifts in U.S. Federal tax liabilities constructed by Romer and Romer to estimate tax multipliers. Differently from the single-equation approach adopted by Romer and Romer, our estimation strategy (a Var that includes output, government spending and revenues, inflation...

Persistent link: https://www.econbiz.de/10005082536

Country Heterogeneity and the International Evidence on the Effects of Fiscal Policy

Favero, Carlo A.; Giavazzi, Francesco; Perego, Jacopo - C.E.P.R. Discussion Papers - 2011

This paper shows how the richer frequency and variety of fiscal policy shocks available in an international sample can be analyzed recognizing the heterogeneity that exists across different countries. The main conclusion of our empirical analysis is that the question 'what is the fiscal policy...

Persistent link: https://www.econbiz.de/10009201121

Reconciling VAR-based and Narrative Measures of the Tax-Multiplier

Favero, Carlo A.; Giavazzi, Francesco - C.E.P.R. Discussion Papers - 2010

The currently available empirical evidence shows remarkable differences between various estimates of the effects on U.S. output of an exogenous shift in Federal tax liabilities. Shocks identified via the narrative method imply a multiplier of about three over an horizon of three years. Tax...

Persistent link: https://www.econbiz.de/10008468626