One of the most important drawbacks of the existing literature on convergence is that it largely ignores the effect of aggregate fluctuations on the evolution of income disparities. To the extent that regional income disparities follow a distinct cyclical pattern in the short-run, moving either...

We reassess convergence of income across countries and its determinants. The ergodic distribution of output per worker features multiple modes. In contrast to previous findings, productivity in the long run is unimodal. The long-run distribution of human capital is multimodal.

This paper examines labour productivity convergence tendencies, among 28 developed and developing countries, in manufacturing sectors, identified by production's technological content. A unified distribution dynamics framework is employed to test absolute and conditional convergence hypotheses,...