Testing stochastic income convergence in seasonal heterogeneous panels |
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Authors: | Nuri Ucar Huseyin Guler |
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Affiliation: | 1. Department of International Trade Management, Cankaya University, Ogretmenler Cad. No: 14, 06530 Balgat, Ankara, Turkey;2. Department of Econometrics, Cukurova University, 01330, Balcali, Adana, Turkey |
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Abstract: | In this paper we introduce a seasonal version of the Solow–Swan growth model and acquire an empirical income convergence equation. We take this equation as a basis to investigate whether income convergence exists in an OECD sample. To do this, we propose the test statistics under various asymptotic properties for some of the seasonal frequencies in the context of nonstationary heterogeneous panels. Critical values and moments of our statistics are generated and their finite sample performances are examined via Monte Carlo simulations. |
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Keywords: | C12 C15 O47 |
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