This paper investigates the long-run link between levels of output and fiscal policies from a neoclassical perspective for a sample of 19 OECD countries over the period 1970-98. As a departure from previous studies, we take explicit note of the time-series properties of the output, inputs and...

In this paper we investigate the existence of stochastic convergence of per capita real output in 19 OECD countries over 1870-2003. For that purpose, we employ panel techniques which incorporate an unknown number of structural breaks along with cross-dependence. Overall, our analysis provides...