Divergence, convergence, and the history-augmented Solow model
Vadim Kufenko (),
Klaus Prettner () and
No 11-2017, Hohenheim Discussion Papers in Business, Economics and Social Sciences from University of Hohenheim, Faculty of Business, Economics and Social Sciences
We test the history-augmented Solow model with respect to its predictions on the patterns of divergence and convergence between the nowadays industrialized countries of the OECD. We show that the dispersion of incomes increased after the Industrial Revolution, peaked during the Second World War, and decreased afterwards. This pattern is fully consistent with the transitional dynamics implied by the history-augmented Solow model.
Keywords: history-augmented Solow model; divergence; convergence; cross-country inequality (search for similar items in EconPapers)
JEL-codes: J11 O11 O47 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-gro, nep-his and nep-hpe
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:hohdps:112017
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