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Sigma Convergence Versus Beta Convergence: Evidence from U.S. County-Level Data

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Author Info

  • Andrew T. Young

    (Emory University)

  • Matthew J. Higgins

    (Emory University)

  • Daniel Levy

    ()
    (Bar-Ilan University and Emory University)

Abstract

This note outlines (i) why σ-convergence may not accompany β-convergence; (ii) cites evidence of β-convergence in the U.S.; (iii) demonstrates that σ-convergence does not hold across the U.S., or within most U.S. states; and (iv) demonstrates the robustness of this finding to increases in mean income. The distributions of shocks appear important towards accounting for income disparity.

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File URL: http://www.biu.ac.il/soc/ec/wp/6-03/6-03.pdf
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Bibliographic Info

Paper provided by Bar-Ilan University, Department of Economics in its series Working Papers with number 2003-06.

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Date of creation: Sep 2003
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Handle: RePEc:biu:wpaper:2003-06

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Keywords: σ-convergence; β-convergence; Solow growth model; speed of convergence;

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References

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  1. Andrew T. Young & Matthew J. Higgins & Daniel Levy, 2004. "Heterogeneity in Convergence Rates and Income Determination across U.S. States: Evidence from County-Level Data," Working Papers, Bar-Ilan University, Department of Economics 2004-1, Bar-Ilan University, Department of Economics.
  2. Sala-i-Martin, Xavier X., 1996. "Regional cohesion: Evidence and theories of regional growth and convergence," European Economic Review, Elsevier, Elsevier, vol. 40(6), pages 1325-1352, June.
  3. Matthew Higgins & Daniel Levy & Andrew Young, 2005. "Growth and Convergence across the US: Evidence from County-Level Data," Macroeconomics, EconWPA 0505009, EconWPA.
  4. Andrew T. Young & Matthew J. Higgins & Daniel Levy, 2011. "Heterogeneous Convergence," Emory Economics, Department of Economics, Emory University (Atlanta) 1106, Department of Economics, Emory University (Atlanta).
  5. Quah, Danny, 1997. "Empirics for Growth and Distribution: Stratification, Polarization, and Convergence Clubs," CEPR Discussion Papers, C.E.P.R. Discussion Papers 1586, C.E.P.R. Discussion Papers.
  6. Mankiw, N Gregory & Romer, David & Weil, David N, 1992. "A Contribution to the Empirics of Economic Growth," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 107(2), pages 407-37, May.
  7. Quah, Danny, 1993. "Galton's Fallacy and Tests of the Convergence Hypothesis," CEPR Discussion Papers, C.E.P.R. Discussion Papers 820, C.E.P.R. Discussion Papers.
  8. Efthymios Tsionas, 2000. "Regional Growth and Convergence: Evidence from the United States," Regional Studies, Taylor & Francis Journals, Taylor & Francis Journals, vol. 34(3), pages 231-238.
  9. Islam, Nazrul, 1995. "Growth Empirics: A Panel Data Approach," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 110(4), pages 1127-70, November.
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