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Persistent link: https://www.econbiz.de/10003814739
The generalized method of moments (GMM) estimator is often used to test for convergence in income distribution in a dynamic panel set-up. We argue that though consistent, the GMM estimator utilizes the sample observations inefficiently. We propose a simple ordinary least squares (OLS) estimator...
Persistent link: https://www.econbiz.de/10004972070
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