Parameter variation in the 'log t' convergence test

Paul Johnson

Applied Economics Letters, 2020, vol. 27, issue 9, 736-739

Abstract: This article estimates a local linear version of the model used in the ‘log t’ convergence test. It documents the economically and statistically significant within-sample variation in the estimated value of the key parameter of that test when applied to data for 18 OECD countries during the twentieth century. This variation suggests the substantial waxing and waning of the forces driving convergence, possibly due to low-frequency shocks and changes in the level of economic integration.

Date: 2020
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Working Paper: Parameter variation in the "log t" convergence test (2019)
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DOI: 10.1080/13504851.2019.1644436

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