Convergence among five industrial countries (1870–1994): Results from a time varying cointegration approach
Le Pen, Yannick (2005), Convergence among five industrial countries (1870–1994): Results from a time varying cointegration approach, Empirical Economics, 30, 1, p. 25-35. http://dx.doi.org/10.1007/s00181-004-0213-9
Type
Article accepté pour publication ou publiéDate
2005Journal name
Empirical EconomicsVolume
30Number
1Publisher
Springer
Pages
25-35
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Le Pen, YannickAbstract (EN)
In this paper, we check the hypothesis of a time varying cointegration relation between four industrial countries' per capita GDPs and US per capita GDP on the period from 1870 to 1994. Park and Hahn (1999) give the methodology. Results confirm the hypothesis of time evolving cointegration in all cases. Tests on the parameters of these cointegration relations show that, from the 1980's onwards, we can accept the hypothesis of stochastic convergence between France, Germany and Japan, on one hand, and the United States on the other.Subjects / Keywords
Cointegration; convergenceRelated items
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