Testing Stochastic Income Convergence In Seasonal Heterogeneous Panels
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Date
2010
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Elsevier
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Abstract
In this paper we introduce a seasonal version of the Solow-Swan growth model and acquire an empirical income convergence equation. We take this equation as a basis to investigate whether income convergence exists in an OECD sample. To do this, we propose the test statistics under various asymptotic properties for some of the seasonal frequencies in the context of nonstationary heterogeneous panels. Critical values and moments of our statistics are generated and their finite sample performances are examined via Monte Carlo simulations. (C) 2009 Elsevier B.V. All rights reserved.
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Bootstrap, Convergence, Hegy, Seasonal Panel Unit Root
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Citation
Ucar, Nuri; Guler, Huseyin, "Testing stochastic income convergence in seasonal heterogeneous panels", Economic Modelling, Vol. 27, No. 1, pp. 422-431, (2010).
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Source
Economic Modelling
Volume
27
Issue
1
Start Page
422
End Page
431