Yau, Ruey; Hueng, C. James - In: Applied Economics Letters 14 (2007) 1, pp. 75-77
Cross-country output convergence is re-examined using a flexible concept of unit roots. While the presence of a constant unit root in output-differences implies nonconvergence, the presence of a stochastic unit root on the contrary implies convergence. Using the output-differences between the...