Balanced Growth and Output Convergence in Europe
Using OECD quarterly data on consumption, output and investment from 1980, the balanced growth hypothesis is tested country by country for seven European economies, Belgium, Finland, France, Holland, Italy, Spain and the UK. Output series for each of the countries is then modelled as an output system and the hypothesis of convergence in trend output growth tested. Finally, the hypothesis of balanced growth and convergence, is tested in a system framework.
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- King, Robert G. & Plosser, Charles I. & Stock, James H. & Watson, Mark W., 1991.
"Stochastic Trends and Economic Fluctuations,"
American Economic Review,
American Economic Association, vol. 81(4), pages 819-40, September.
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- Karim Abadir & Kaddour Hadri & Elias Tzavalis, .
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96/14, Department of Economics, University of York.
- Karim M. Abadir & Kaddour Hadri & Elias Tzavalis, 1999. "The Influence of VAR Dimensions on Estimator Biases," Econometrica, Econometric Society, vol. 67(1), pages 163-182, January.
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