This note outlines: 1) Why sigma-convergence may not accompany beta-convergence; 2) Cites evidence of beta-convergence in the U.S.; 3) Demonstrates that sigma-convergence does not hold across the U.S. or within most U.S. states; and 4) Demonstrates the robustness of this finding to increases in...

We use U.S. county-level data consisting of 3,058 observations, to study growth determination and measure the speed of income convergence. County-level data are particularly valuable for studying convergence because they allow us to study a sample with substantial homogeneity and exceptional...

We use U.S. county-level data to estimate convergence rates for 22 individual states. We find significant heterogeneity; e.g., the California estimate is 19.9 percent and the New York estimate is 3.3 percent. Convergence rates are essentially uncorrelated with income levels.

We utilize county-level data to explore growth determination in the U.S. and possible heterogeneity in growth determination across individual states. The data includes over 3,000 cross-sectional observations and 39 demographic control variables. We use a consistent two stage least squares...

We utilize county-level data to explore the different roles of different types of human capital accumulation in U.S. growth determination. The data includes over 3,000 cross-sectional observations and 39 demographic control variables. The large number of observations provides enough degrees of...

We use U.S. county-level data consisting of 3,058 observations, to study growth determination and measure the speed of income convergence. County-level data are particularly valuable for studying convergence because they allow us to study a sample with substantial homogeneity and exceptional...

We use U.S. county-level data consisting of 3,058 observations, to study growth determination and measure the speed of income convergence. County-level data are particularly valuable for studying convergence because they allow us to study a sample with substantial homogeneity and exceptional...

For acquisitions characterized by information asymmetries, we find evidence consistent with the proposition that acquirers are able to avoid the winner's curse. We examine the performance of acquirers of 160 biotechnology firms from 1994-2001 and find evidence that on average, the acquirers of...

We use US county level data (3,058 observations) from 1970 to 1998 to explore the relationship between economic growth and the extent of government employment at three levels: federal, state and local. We find that increases in federal, state and local government employments are all negatively...

We use Mississippi county-level data on (per capita) income and the percentages of populations that are Black (henceforth "Black") to examine the relationship between race and economic growth. The analysis is also conditioned on 40 other economic and socio-demographic variables. Given a negative...