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Initial Values and Income Convergence: Do "The Poor Stay Poor"?

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  • Etsuro Shioji

    (Yokohama National University)

Abstract

A panel data estimation finds a high speed of income convergence among the U.S. states. However, initial incomes show a pattern which is difficult to explain by the estimated model. A simulation study shows that this pattern can be explained much more naturally when we assume that true convergence is slow. 2004 President and Fellows of Harvard College and the Massachusetts Institute of Technology.

Suggested Citation

  • Etsuro Shioji, 2004. "Initial Values and Income Convergence: Do "The Poor Stay Poor"?," The Review of Economics and Statistics, MIT Press, vol. 86(1), pages 444-446, February.
    • Handle: RePEc:tpr:restat:v:86:y:2004:i:1:p:444-446
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    Cited by:

    1. Artis, Michael & Okubo, Toshihiro, 2008. "The Intranational Business Cycle: Evidence from Japan," CEPR Discussion Papers 6686, C.E.P.R. Discussion Papers.
    2. Mountford, Andrew, 2022. "Economic Growth Analysis When Balanced Growth Paths May Be Time Varying," MPRA Paper 114249, University Library of Munich, Germany.
    3. Jesús Rodríguez‐López & Diego Martínez‐López & Diego Romero‐Ávila, 2009. "Persistence of inequalities across the Spanish regions," Papers in Regional Science, Wiley Blackwell, vol. 88(4), pages 841-862, November.

    More about this item

    JEL classification:

    • I32 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Measurement and Analysis of Poverty

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