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International Evidence on Output Fluctuation and Shock Persistence
Levy, Daniel; Dezhbakhsh, Hashem - 2002
We estimate output growth rate spectra for 58 countries. The spectra exhibit diverse shapes. To study the sources of this diversity, we estimate the short-run, business cycle, and long-run frequency components of the sampled series. For most OECD countries the bulk of the spectral mass is in the...
Persistent link: https://www.econbiz.de/10013204730
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International Evidence on Output Fluctuation and Shock Persistence
Levy, Daniel; Dezhbakhsh, Hashem - Department of Economics, Bar Ilan University - 2002
We estimate output growth rate spectra for 58 countries. The spectra exhibit diverse shapes. To study the sources of this diversity, we estimate the short-run, business cycle, and long-run frequency components of the sampled series. For most OECD countries the bulk of the spectral mass is in the...
Persistent link: https://www.econbiz.de/10008526365
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Cointegration in Frequency Domain
Levy, Daniel - EconWPA - 2004
Existence of a cointegration relationship between two time series in the time domain imposes restrictions on the series zero-frequency behaviour in terms of their squared coherence, phase, and gain, in the frequency domain. I derive these restrictions by studying cross-spectral properties of a...
Persistent link: https://www.econbiz.de/10005556273
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International Evidence on Output Fluctuation and Shock Persistence
Levy, Daniel; Dezhbakhsh, Hashem - EconWPA - 2004
We estimate output growth rate spectra for 58 countries. The spectra exhibit diverse shapes. To study the sources of this diversity, we estimate the short-run, business cycle, and long-run frequency components of the sampled series. For most OECD countries the bulk of the spectral mass is in the...
Persistent link: https://www.econbiz.de/10005126132
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International Evidence on Output Fluctuation and Shock Persistence
Levy, Daniel; Dezhbakhsh, Hashem - In: Journal of Monetary Economics 50 (2003) 7, pp. 1499-1530
We estimate output growth rate spectra for 58 countries. The spectra exhibit diverse shapes. To study the sources of this diversity, we estimate the short-run, business cycle, and long-run frequency components of the sampled series. For most OECD countries the bulk of the spectral mass is in the...
Persistent link: https://www.econbiz.de/10012140589
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International Evidence on Output Fluctuation and Shock Persistence
Levy, Daniel; Dezhbakhsh, Hashem - 2010
We estimate output growth rate spectra for 58 countries. The spectra exhibit diverse shapes. To study the sources of this diversity, we estimate the short-run, business cycle, and long-run frequency components of the sampled series. For most OECD countries the bulk of the spectral mass is in the...
Persistent link: https://www.econbiz.de/10014090858
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Output, Capital, and Labor in the Short and Long Run
Levy, Daniel - 2010
I provide new empirical evidence on the relative importance of capital and labor in the determination of output in the short and long run. I find that capital is far more important factor than labor in the determination of output at the zero frequency band. Also, the zero-frequency labor...
Persistent link: https://www.econbiz.de/10014066677
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Sigma-Convergence Versus Beta-Convergence: Evidence from U.S. County-Level Data
Young, Andrew; Higgins, Matthew; Levy, Daniel - EconWPA - 2005
In this paper we outline (i) why ó-convergence may not accompany â- convergence, (ii)cite evidence of â-convergence in … the U.S., (iii) and use USA county-level data containing over 3,000 cross-sectional observations to demonstrate that ó-convergence …
Persistent link: https://www.econbiz.de/10005412590
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Growth and Convergence across the US: Evidence from County-Level Data
Higgins, Matthew; Levy, Daniel; Young, Andrew - EconWPA - 2005
We use county data with 3,058 observations to study growth and convergence in the US. We assess the effect of 40 … convergence rates around 2 percent, but 3SLS yields 6–8 percent; (2) convergence rates vary across the U.S. E.g., Southern …
Persistent link: https://www.econbiz.de/10005412718
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Heterogeneity in Convergence Rates and Income Determination across U.S. States: Evidence from County-Level Data
Young, Andrew; Higgins, Matthew; Levy, Daniel - EconWPA - 2004
convergence rate across the U.S. is about 7 percent per year – higher than the 2 percent normally found with OLS in cross …-country, U.S. state, and European region samples. Estimated convergence rates for 32 individual states are above 2 percent with … an average of 8.1 percent. For 29 states the convergence rate is above 2 percent with 95 percent confidence. For seven …
Persistent link: https://www.econbiz.de/10005118829