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Persistent link: https://www.econbiz.de/10005078242
Estimates of the speed of convergence vary widely and depend on the methodology employed. While cross-sectional regressions typically find slow convergence, time series estimates suggest that incomes converge rapidly. This paper uses panel methods to combine cross-sectional and time series...
Persistent link: https://www.econbiz.de/10005078243
This paper studies the effects of applying the Hodrick-Prescott filter to trend and difference stationary time series. Applying the Hodrick-Prescott filter to an integrated process is similar to detrending a random walk. When the data are difference stationary, the Hodrick-Prescott filter can...
Persistent link: https://www.econbiz.de/10005078300
Persistent link: https://www.econbiz.de/10010702304