uncertainty, a stochastic version of the Ramsey modelwith livestock as the single asset. We use the estimation results in … simulation experiments(over a 20-year period) to quantify the importance of convergence, household fixed effectsand shocks. First …, we find powerful convergence. In the absence of shocks and withouthousehold fixed effects there is rapid growth over the …

revolution, followed by a "Great Convergence", that is decreasing world inequality after the take-off of the latecomers of the … country depends on its connections to the rest of the world and on the human capital of the countries it is exchanging … knowledge with. We show how the diffusion of knowledge through the world explains the evolution of global income inequality. It …

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 …

How does global aging affect the convergence in global economic development? Both the developing and developed world … Official Development Assistance (ODA) will remain necessary capital flows for the developing world in the near future …

Countries and a World comprising 55 countries). Our findings indicate that the equal-share relationship holds strongly for US … states, holds weakly for EU countries, but does not hold for Developing Countries or the World. …