TY  - BOOK
AU  - Hernández Salmerón,Macarena
AU  - Romero-Ávila,Diego
ED  - SpringerLink (Online service)
TI  - Convergence in Output and Its Sources Among Industrialised Countries: A Cross-Country Time-Series Perspective 
T2  - SpringerBriefs in Economics,
SN  - 9783319136356
AV  - HB172.5 
U1  - 339 23
PY  - 2015///
CY  - Cham
PB  - Springer International Publishing, Imprint: Springer
KW  - Economics
KW  - Econometrics
KW  - Labor economics
KW  - Macroeconomics
KW  - Economics/Management Science
KW  - Macroeconomics/Monetary Economics
KW  - Labor Economics
N1  - Introduction -- Model Specification and Data -- Econometric Methods -- Empirical Results -- PANIC Approach -- PANIC Results -- Concluding Remarks
N2  - 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
UR  - http://dx.doi.org/10.1007/978-3-319-13635-6
ER  -