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Modeling the cross-country distribution of per capita income using mixture analysis provides a natural platform for the detection of clubs of countries. Unfortunately, these mixture methods, when based on a strictly univariate approach are limiting towards one’s ability to learn about the...
Persistent link: https://www.econbiz.de/10010617296
Using intradistribution dynamics and panel unit root tests, this study considers the economic convergence processes of … 53 African countries during the period 1950–2008. The stochastic evidence reveals no global convergence among African … countries but provides indications of convergence clubs. The poorest countries remained relatively poor, stuck in a poverty trap …
Persistent link: https://www.econbiz.de/10011278538
It is widely believed that regional labour markets in the USA are highly flexible, so that employment shocks have only transitory effects on joblessness since induced migration quickly offsets much of the initial impact. However time-series analysis of the response to shocks is very sensitive to...
Persistent link: https://www.econbiz.de/10010604964
Let a class $\F$ of densities be given. We draw an i.i.d.\ sample from a density $f$ which may or may not be in $\F$. After every $n$, one must make a guess whether $f \in \F$ or not. A class is almost surely testable if there exists such a testing sequence such that for any $f$, we make...
Persistent link: https://www.econbiz.de/10005704913
The convergence literature frequently presupposes some unidentified steady state distribution. This paper presents a … new method to identify the presence and rate of convergence to a steady state distribution. The method is illustrated with …
Persistent link: https://www.econbiz.de/10005700236
Distribution free statistics are employed to investigate biennial income per capita convergence across 52 Spanish … provinces over the period 1955-1997. Based upon ideas of concordance and discordance that capture convergence and divergence … properties, the paper presents results that suggest convergence is dominant for the full sample over the entire period, swings in …
Persistent link: https://www.econbiz.de/10005818305
In this paper we employ traditional beta, sigma, gamma-convergence tools to assess growth behaviour of groups of … countries in connection with mixture densities. In the presence of mixtures, the standard methods to assess convergence are …. Our results show that, taken as global measures, convergence is an uncommon feature, whereas focusing on the individual …
Persistent link: https://www.econbiz.de/10008866040
Cet article présente les contributions originelles et essentielles de T. Sargent et C. Sims à la modélisation macro-économétrique. Après avoir exposé leur critique de la modélisation existante, cet article s'attache à préciser l'originalité de leurs approches respectives. La...
Persistent link: https://www.econbiz.de/10010968941
A large literature over several decades reveals both extensive concern with the question of time-varying betas and an emerging consensus that betas are in fact time-varying, leading to the prominence of the conditional CAPM. Set against that background, we assess the dynamics in realized betas,...
Persistent link: https://www.econbiz.de/10010986490
There are over 3 billion searches globally on Google every day. This report examines whether Google search queries can be used to predict the present and the near future unemployment rate in Finland. Predicting the present and the near future is of interest, as the official records of the state...
Persistent link: https://www.econbiz.de/10010987124