Convergence of Relative State-level Per Capita Incomes in the United States Revisited

Panos Fousekis

Journal of Regional Analysis and Policy, 2007, vol. 37, issue 2, 10

Abstract: In this paper convergence in per capita incomes (personal and disposable) in US states over 1929-2005 is revisited using the notion of relative stochastic convergence and stationarity tests for panel data. According to the results, although the dispersion of per capita income be-came stationary by the early 1960s a large proportion of states have not converged to the na-tional average. The presence of diverging states indicates that a long-run (steady-state) distri-bution in relative incomes has not yet been attained, something which contrasts sharply with the findings of earlier empirical studies on the topic.

Keywords: Financial Economics; Labor and Human Capital (search for similar items in EconPapers)
Date: 2007
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:jrapmc:132408

DOI: 10.22004/ag.econ.132408

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