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Sigma Convergence versus Beta Convergence: Evidence from U.S. County-Level Data

Young, Andrew T.; Higgins, Matthew J.; Levy, Daniel - In: Journal of Money, Credit and Banking 40 (2008) 5, pp. 1083-1093

In this paper, we outline (i) why σ-convergence may not accompany β-convergence, (ii) discuss evidence of β-convergence in the United States, and (iii) use U.S. county-level data containing over 3,000 cross-sectional observations to demonstrate that σ-convergence cannot be detected at the...

Persistent link: https://www.econbiz.de/10012140581

Sigma Convergence versus Beta Convergence: Evidence from U.S. County-Level Data

Young, Andrew; Higgins, Matthew; Levy, Daniel - Volkswirtschaftliche Fakultät, … - 2007

In this paper we outline (i) why sigma-convergence may not accompany beta-convergence, (ii) discuss evidence of beta-convergence in the U.S., and (iii) use U.S. county-level data containing over 3,000 cross-sectional observations to demonstrate that sigma-convergence cannot be detected at the...

Persistent link: https://www.econbiz.de/10005623539

Integration of the foreign exchange markets of the selected EU new member states

Komárková, Zlatuše; Komárek, Luboš - In: Politická ekonomie 2007 (2007) 3

The article deals with the evaluation of the foreign exchange market integration of the new EU Member States - the Czech Republic, Hungary, Poland and Slovakia. The main aim of this paper is to introduce and to test, if the Central-European sentiment on the foreign exchange market exists and how...

Persistent link: https://www.econbiz.de/10004963560

Empirical evidence on convergence across the PIIGS member states of the Euro-zone

Katsouli, Eleni F.; Katos, Anastasios V. - In: International Journal of Sustainable Economy 6 (2014) 3, pp. 230-242

This paper investigates unconditional convergence of major economic variables across the Euro-zone member states of … inflation rate, and the wages inflation rate converge across the five Euro-zone member states. The findings show that the speed …-Maastricht Treaty decade, and the decade after the initiation of the Euro-zone). …

Persistent link: https://www.econbiz.de/10010795444

Stock market linkages among new EMU members and the euro area : implications for financial integration and portfolio diversification

Dunis, Christian; Sermpinis, Georgios; Karampelia, … - In: Studies in economics and finance 30 (2013) 4, pp. 370-388

Persistent link: https://www.econbiz.de/10010207317

Panel Data Stochastic Convergence Analysis of the Mexican Regions

Carrion-i-Silvestre, Josep Lluís; German-Soto, Vicente - Facultat d'Economia i Empresa, Universitat de Barcelona - 2008

The stochastic convergence amongst Mexican Federal entities is analyzed in panel data framework. The joint consideration of cross-section dependence and multiple structural breaks is required to ensure that the statistical inference is based on statistics with good statistical properties. Once...

Persistent link: https://www.econbiz.de/10005059596

Exploring the international linkages of the euro area: a global VAR analysis

Dées, Stéphane; di Mauro, Filippo; Pesaran, Hashem; … - 2005

This paper presents a quarterly global model linking individual country vector errorcorrecting models in which the domestic variables are related to the country-specific foreign variables. The global VAR (GVAR) model is estimated for 26 countries, the euro area being treated as a single economy,...

Persistent link: https://www.econbiz.de/10011604614

Consumer confidence as a predictor of consumption spending : evidence for the United States and the euro area

Dées, Stéphane; Soares Brinca, Pedro - 2011

For most academics and policy makers, the depth of the 2007-09 financial crisis, its longevity and its impacts on the real economy resulted from an erosion of confidence. This paper proposes to assess empirically the link between consumer sentiment and consumption expenditures for the United...

Persistent link: https://www.econbiz.de/10009160013

Nowcasting and Forecasting Economic Growth in the Euro Area Using Principal Components

Hindrayanto, Irma - 2014

Many empirical studies have shown that factor models produce relatively accurate forecasts compared to alternative short-term forecasting models. These empirical findings have been established for different macroeconomic data sets and different forecast horizons. However, various specifications...

Persistent link: https://www.econbiz.de/10013048646

Exploring the International Linkages of the Euro Area : A Global VAR Analysis

Dees, Stephane - 2006

This paper presents a global model linking individual country vector error-correcting models in which the domestic variables are related to the country-specific variables as an approximate solution to a global common factor model. This global VAR is estimated for 26 countries, the euro area...

Persistent link: https://www.econbiz.de/10012783809

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