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A Continuous State Space Approach to “Convergence by Parts”

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Abstract

Using a continuous state space approach, this note extends Feyrer's [2003] study of the proximate determinants of the shape of the long-run distribution of income per capita. Contrary to Feyrer's finding of the primacy of TFP, the results here imply that traps in both TFP growth and capital accumulation may matter.

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  • Johnson, Paul, 2003. "A Continuous State Space Approach to “Convergence by Parts”," Vassar College Department of Economics Working Paper Series 54, Vassar College Department of Economics.
  • Handle: RePEc:vas:papers:54
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