ISSN:
1573-7020
Keywords:
convergence club
;
distribution dynamics
;
polarization
;
stochastic kernel
;
twin peaks
;
C23
;
O40
;
O57
Source:
Springer Online Journal Archives 1860-2000
Topics:
Economics
Notes:
Abstract This paper uses a model of growth and imperfect capital mobility across multiple economies to characterize the dynamics of (cross-country) income distributions. This allows convenient study of the convergence hypothesis, and reveals, where appropriate, polarization and clumping within subgroups. The data show little cross-country convergence; instead, the important features are persistence, immobility, and polarization, exemplified by “convergence club” or “twin peaks” dynamics.
Type of Medium:
Electronic Resource
URL:
http://dx.doi.org/10.1007/BF00163344
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