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Convergence in U.S. Metropolitan Statistical Areas

Author

Listed:
  • Ghassen El Montasser

    (École Supérieure de Commerce de Tunis, Université de la Manouba)

  • Rangan Gupta

    (Department of Economics, University of Pretoria)

  • Devon Smithers

    (Department of Economics, University of Pretoria)

Abstract

In this paper, the convergence of income per capita across U.S. metropolitan statistical areas (metros) are examined over the period between 1969 and 2011. We initiate the analysis with multivariate tests for stability, and the existence of unit roots. The analysis is complemented by the use of the panel stationarity test accounting for structural changes, as proposed by Carrion-i-Silvestre et al. (2005). The study of convergence is important for both economists, as a means to test growth theories and distinguish between different models, as well as policy makers who seek to maximize the utility of their constituents by making use of all information available to them. We find that that in the 384 U.S. metros there is a divergence of per capita income, which is dissimilar to other empirical literature that has dealt with convergence using older time periods and data.

Suggested Citation

  • Ghassen El Montasser & Rangan Gupta & Devon Smithers, 2014. "Convergence in U.S. Metropolitan Statistical Areas," Working Papers 201421, University of Pretoria, Department of Economics.
    • Handle: RePEc:pre:wpaper:201421
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    More about this item

    Keywords

    Panel data; Income convergence; Structural breaks; Unit root test;
    All these keywords.

    JEL classification:

    • C12 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Hypothesis Testing: General
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General

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