Recent works on aggregate job flows in the US economy indicate that (i) specific sectoral shocks are important to account for aggregate job flows dynamics and that (ii) aggregate creation and destruction dynamics display significant non-linearities. This paper aims to study whether a simple...

A switching regression approach with imperfect sample separation information is used to determine convergence clubs. Regime classification allows one to determine which countries belong to the related convergence clubs. Initial per capita GDP does not provide a perfect sample separation...

Aggregate fluctuations display both persistence and damped oscillations in response to transitory shocks. The one sector growth model cannot explain these patterns. This major defect of this model results in its total inability to produce endogenous cycling, because its stable eigenvalues are...