contributes to the polarization of the world income distribution. -- economic growth ; neoclassical convergence ; technological … world income distribution dynamics. Formal statistical hypothesis tests allow us to discriminate between two competing … growthmodels: (i) the standard neoclassical growth model similar to that employed by Mankiw, Romer, and Weil (1992), (ii) an …

. We compare these results to results from a standard SVECM and find that, using the Subset VECM reduces estimation … uncertainty. In contrast to previous studies for West Germany, we find that, unemployment is equally determined by technology …

explanatory variables is unique across countries. Applying recursive estimation procedures we find that there is evidence for a …

To assess the predictive content of the interest rate term spread for future economic growth, we distinguish short … predictive content of the yield spread for future output growth. For U.S. data we observe good leading indicator properties at …

; Parameter estimation uncertainty ; Probability integral transform ; Quadratic form ; Short-term interest rate ; Transition …

entry can either reverse or intensify this result. -- International Trade ; Organization of Production ; Technology Choice …

new firms enter the market. -- International Trade ; Organization of Production ; Technology Choice ; Division of Labor …