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Convergence in Output and Its Sources Among Industrialised Countries = A Cross-Country Time-Series Perspective /

Record Type:	Language materials, printed : Monograph/item
Title/Author:	Convergence in Output and Its Sources Among Industrialised Countries/ by Macarena Hernández Salmerón, Diego Romero-Ávila.
Reminder of title:	A Cross-Country Time-Series Perspective /
Author:	Hernández Salmerón, Macarena.
other author:	Romero-Ávila, Diego.
Description:	IX, 74 p. 10 illus., 5 illus. in color.online resource. :
Contained By:	Springer Nature eBook
Subject:	Macroeconomics. -
Online resource:	https://doi.org/10.1007/978-3-319-13635-6
ISBN:	9783319136356

Convergence in Output and Its Sources Among Industrialised Countries = A Cross-Country Time-Series Perspective /
Hernández Salmerón, Macarena.

Convergence in Output and Its Sources Among Industrialised CountriesA Cross-Country Time-Series Perspective /[electronic resource] :by Macarena Hernández Salmerón, Diego Romero-Ávila. - 1st ed. 2015. - IX, 74 p. 10 illus., 5 illus. in color.online resource. - SpringerBriefs in Economics,2191-5504. - SpringerBriefs in Economics,.

Introduction -- Model Specification and Data -- Econometric Methods -- Empirical Results -- PANIC Approach -- PANIC Results -- Concluding Remarks.

This book investigates the existence of stochastic and deterministic convergence of real output per worker and the sources of output (physical capital per worker, human capital per worker, total factor productivity –TFP– and average annual hours worked) in 21 OECD countries over the period 1970-2011. Towards this end, the authors apply a large battery of panel unit root and stationarity tests, all of which are robust to the presence of cross-sectional dependence. The evidence fails to provide clear-cut evidence of convergence dynamics either in real GDP per worker or in the series of the sources of output. Due to some limitations associated with second-generation panel unit root and stationarity tests, the authors further use the more flexible PANIC approach which provides evidence that real GDP per worker, real physical capital per worker, human capital and average annual hours exhibit some degree of deterministic convergence, whereas TFP series display a high degree of stochastic convergence.

ISBN: 9783319136356

Standard No.: 10.1007/978-3-319-13635-6doiSubjects--Topical Terms:

554837
Macroeconomics.

LC Class. No.: HB172.5

Dewey Class. No.: 339

Convergence in Output and Its Sources Among Industrialised Countries = A Cross-Country Time-Series Perspective /
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