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Model Specification and Data

In: Convergence in Output and Its Sources Among Industrialised Countries

Author

Listed:
  • Macarena Hernández-Salmerón

    (Regional Government of Andalusia)

  • Diego Romero-Ávila

    (Pablo de Olavide University)

Abstract

This chapter outlines the empirical framework and the main variables involved in the analysis of stochastic and deterministic convergence. It then describes the data source used and the exact data series employed to measure real output per worker, real physical capital per worker, human capital, total factor productivity (TFP) and average annual hours worked. As regards the data source, we employ the newest version of the so-called Penn World Table, version 8.0. As measures of real GDP, real physical capital and TFP, we employ the series based on national-accounts data. As for the measure of human capital, we employ the Psacharopoulos (1994) survey of wage equations evaluating the returns to education that transforms average years of schooling data into a human capital index.

Suggested Citation

  • Macarena Hernández-Salmerón & Diego Romero-Ávila, 2015. "Model Specification and Data," SpringerBriefs in Economics, in: Convergence in Output and Its Sources Among Industrialised Countries, edition 127, chapter 0, pages 9-14, Springer.
    • Handle: RePEc:spr:spbchp:978-3-319-13635-6_2
    DOI: 10.1007/978-3-319-13635-6_2
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