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008 141227s2015 gw | s |||| 0|eng d
020 _a9783319136356
_9978-3-319-13635-6
024 7 _a10.1007/978-3-319-13635-6
_2doi
050 4 _aHB172.5
072 7 _aKCB
_2bicssc
072 7 _aKCBM
_2bicssc
072 7 _aBUS039000
_2bisacsh
072 7 _aBUS045000
_2bisacsh
082 0 4 _a339
_223
100 1 _aHernández Salmerón, Macarena.
_eauthor.
245 1 0 _aConvergence in Output and Its Sources Among Industrialised Countries
_h[electronic resource] :
_bA Cross-Country Time-Series Perspective /
_cby Macarena Hernández Salmerón, Diego Romero-Ávila.
260 1 _aCham :
_bSpringer International Publishing :
_bImprint: Springer,
_c2015.
300 _aIX, 74 p. 10 illus., 5 illus. in color.
_bonline resource.
336 _atext
_btxt
_2rdacontent
337 _acomputer
_bc
_2rdamedia
338 _aonline resource
_bcr
_2rdacarrier
347 _atext file
_bPDF
_2rda
490 1 _aSpringerBriefs in Economics,
_x2191-5504
505 0 _aIntroduction -- Model Specification and Data -- Econometric Methods -- Empirical Results -- PANIC Approach -- PANIC Results -- Concluding Remarks.
520 _aThis 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.
650 0 _aEconomics.
650 0 _aEconometrics.
650 0 _aLabor economics.
650 0 _aMacroeconomics.
650 1 4 _aEconomics/Management Science.
650 2 4 _aMacroeconomics/Monetary Economics.
650 2 4 _aEconometrics.
650 2 4 _aLabor Economics.
700 1 _aRomero-Ávila, Diego.
_eauthor.
710 2 _aSpringerLink (Online service)
773 0 _tSpringer eBooks
776 0 8 _iPrinted edition:
_z9783319136349
830 0 _aSpringerBriefs in Economics,
_x2191-5504
856 4 0 _uhttp://dx.doi.org/10.1007/978-3-319-13635-6
912 _aZDB-2-SBE
942 _2ddc
_cEBOOK
999 _c3186
_d3186