AbstractThe recent literature on convergence has departed from the earlier literature by focusing on the shape of the production function and the rate at which an economy converges to its own steady state. This article uses advances from the recent literature to look back at the question that originally motivated the convergence literature: what will the distribution of per capita income look like in the future? Several results are highlighted by the analysis, including the suggestion that there is little reason to expect the United States to maintain its position as world leader in terms of output per worker. Copyright 1997 by Kluwer Academic Publishers
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Bibliographic InfoArticle provided by Springer in its journal Journal of Economic Growth.
Volume (Year): 2 (1997)
Issue (Month): 2 (July)
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