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Structural Breaks and Convergence in Output Growth in the EU

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Author Info
Clifford L.F. Attfield ()
Abstract

Convergence is defined for a multivariate time-series model of output with breaks in intercepts and in time trends. Using OECD quarterly data on output from 1980, the convergence hypothesis is tested across seven European economies, Belgium, Finland, France, Italy, the Netherlands, Spain and the UK. On the strictest definition, the hypothesis of convergence of output can be rejected but, with a weaker definition, there is some evidence of convergence for the five countries Belgium, Finland, France, the Netherlands and the UK. The data is consistent with a model in which each country's trend output is related to a common European stochastic trend. This trend output is estimated and graphed for each country.

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File URL: http://www.efm.bris.ac.uk/economics/working_papers/pdffiles/dp03544.pdf
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Publisher Info
Paper provided by Department of Economics, University of Bristol, UK in its series Bristol Economics Discussion Papers with number 03/544.

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Length: 14 pages
Date of creation: Jan 2003
Date of revision:
Handle: RePEc:bri:uobdis:03/544

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Related research
Keywords: Convergence; Output Growth; Permanent Stochastic Trends;

Find related papers by JEL classification:
C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions
C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation

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  1. Li, Qing & Papell, David, 1999. "Convergence of international output Time series evidence for 16 OECD countries," International Review of Economics & Finance, Elsevier, vol. 8(3), pages 267-280, September. [Downloadable!] (restricted)
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This page was last updated on 2009-12-11.

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