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Does Income Converge among EU Member Countries following the Post-War Period? Evidence from the PANKPSS Test

Ozcan, Burcu - In: Journal for Economic Forecasting (2014) 3, pp. 22-38

In this study, we examine both stochastic and deterministic convergence in the logarithm of the relative per capita income of eighteen EU countries. The panel stationary test developed by Carrion-i Silvestre et al. (2005) is employed over the period 1950-2010. The univariate results attained...

Persistent link: https://www.econbiz.de/10010938021

Granger causality between debt and growth: Evidence from OECD countries

Puente-Ajovín, Miguel; Sanso-Navarro, Marcos - In: International Review of Economics & Finance 35 (2015) C, pp. 66-77

This paper analyzes the possible presence of Granger causality between debt and growth in 16 OECD countries from 1980 to 2009. This is done considering not only government debt but also non-financial corporate and household debt. The panel bootstrap Granger causality test applied allows us to...

Persistent link: https://www.econbiz.de/10011077055

On Asymmetric Business Cycle Effects on Convergence Rates: Some European Evidence

María-Dolores, Ramón; Sancho, Israel - Society for Computational Economics - SCE - 2004

In this paper, we provide empirical evidence for some European countries, over the period 1963-2000, on whether business cycle affects convergence process or catching-up. To do so, we first evaluate beta-convergence. We find evidence in favour of this type of convergence for six countries...

Persistent link: https://www.econbiz.de/10005345285

Le verifiche empiriche dell'ipotesi di convergenza

Capolupo, Rosa - In: Giornale degli Economisti 58 (1999) 3-4, pp. 377-421

This paper is a selective review of the literature on the conditional convergence prediction implied by the neoclassical Ramsey-Cass Koopmans version of the growth model. The new stylized facts of increasing disparity and variations of income per capita and growth rates across countries and...

Persistent link: https://www.econbiz.de/10005772684

Causal Relationship Between Exports and Agricultural GDP in Pakistan

Memon, Manzoor Hussain; Baig, Waqar Saleem; Ali, Muhammad - Volkswirtschaftliche Fakultät, … - 2008

This paper is an attempt to investigate the causal relationships among agriculture and exports in Pakistan by using time series data for the period between 1971 and 2007. There are several efforts reflecting greater interest in exploring the possible relation between the international trade and...

Persistent link: https://www.econbiz.de/10005835581

International Output Convergence, Breaks, and Asymmetric Adjustment

Dimitris, Chrsitopoulos; Miguel, Leon-Ledesma - Volkswirtschaftliche Fakultät, … - 2009

We present time series evidence on output convergence for 14 countries relative to the US for the 1900-2000 period. We develop tests that allow for an unknown number of breaks in the series and also asymmetric convergence speed. We show that this asymmetry arises theoretically when the economy...

Persistent link: https://www.econbiz.de/10005837045

The Aggregate Production Function of the Finnish Economy in the Twentieth Century

Luoma, Arto; Luoto, Jani - In: Southern Economic Journal (2010) 3, pp. 723-737

This article uses the Bayesian approach to estimate the parameters of the normalized constant elasticity of substitution (CES) function with factor-augmenting technical progress directly, rather than using derived first-order conditions of profit maximizing behavior. Bayesian estimation is...

Persistent link: https://www.econbiz.de/10008497881

R&D Races and Spillovers between the EU and the US: Some Causal Evidence

Atukeren, Erdal - KOF Swiss Economic Institute, Department of Management, … - 2005

-cause of both R&D and economy-wide productivity in the US, and the effects are negative. On the other hand, the EU reacts … positively to increases in R&D productivity in the US. Thus, the US can be said to respond submissively to an R&D move by the EU … with the actual developments in the productivity differentials between the EU and the US and the patterns in their relative …

Persistent link: https://www.econbiz.de/10005515976

Are U.S. regions converging? Using new econometric methods to examine old issues

Vogelsang, Timothy J.; Tomljanovich, Marc - In: Empirical Economics 27 (2002) 1, pp. 49-62

Are different regions of the United States experiencing convergence in levels of GDP? Carlino and Mills (1993) examined this question through time-series techniques, and found some evidence in favor of regional convergence. This paper checks the robustness of their results by using new...

Persistent link: https://www.econbiz.de/10005382297

Multivariate Unit Root Tests and Testing for Convergence

Harvey, A.; Bates, D. - Faculty of Economics, University of Cambridge - 2003

We examine the properties of a multivariate Dickey-Fuller t-statistic designed to test for a unit root in a panel while taking account of cross-sectional dependence. The asymptotic distribution is presented and critical values provided. When intercepts are present, a modification along the lines...

Persistent link: https://www.econbiz.de/10005113862