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Dynamics of the Income Distribution across OECD Countries

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  • J Andres
  • A Lamo

Abstract

In this paper we test the convergence hypothesis among OECD economies from 1960 to 1990. The empirical growth literature has found in the OECD the best example of a homogenous group of countries in which the convergence proposition of the constant returns growth model is likely to hold. We analyse the dynamics of the cross-section distribution of incomes and we find that neither absolute nor conditional convergence, in the sense of all economies approaching the OECD average, has taken place along the whole period. In fact, there is substantial inertia in the incomes ranking as well as a group of economies persistently at the bottom of the distribution all through the sample period. Our results indicate that convergence, taken as a single economy property whereby per capita income in each country is stationary around its long-run path, has taken place. However, this result does not tell us very much about whether the economies are approaching each other in the long-run.

Suggested Citation

  • J Andres & A Lamo, 1995. "Dynamics of the Income Distribution across OECD Countries," CEP Discussion Papers dp0252, Centre for Economic Performance, LSE.
  • Handle: RePEc:cep:cepdps:dp0252
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    Cited by:

    1. James Proudman & Stephen Redding & Marco Bianchi, 1997. "Is International Openness associated with faster economic growth?," Bank of England working papers 63, Bank of England.
    2. Emili Tortosa-Ausina, 2000. "Inefficient banks or inefficient assets," Working Papers 0005, Departament Empresa, Universitat Autònoma de Barcelona, revised Dec 2000.
    3. Emili Tortosa-Ausina, 2003. "Bank cost efficiency as distribution dynamics: controlling for specialization is important," Investigaciones Economicas, Fundación SEPI, vol. 27(1), pages 71-96, January.
    4. Johnson, Paul & Papageorgiou, Chris, 2018. "What Remains of Cross-Country Convergence?," MPRA Paper 89355, University Library of Munich, Germany.
    5. Ana Lamo, 2000. "On convergence empirics: same evidence for Spanish regions," Investigaciones Economicas, Fundación SEPI, vol. 24(3), pages 681-707, September.
    6. Wakerly, Elizabeth C., 2002. "Disaggregate dynamics and economic growth in Canada," Economic Modelling, Elsevier, vol. 19(2), pages 197-219, March.
    7. Emili Tortosa Ausina, 1999. "-Convergence In Efficiency Of The Spanish Banking Firms As Distribution Dynamics," Working Papers. Serie EC 1999-14, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).

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