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!convergence panel regressions may produce biased evidence, due to their inability to distinguish between actual catching-up across …. The results confirm the conjecture that traditional evidence about - convergence may be misleading; they also show that …
Persistent link: https://www.econbiz.de/10010343912
Spurious regression analysis in panel data when the time series are cross-section dependent is analyzed in the paper. We show that consistent estimation of the long-run average parameter is possible once we control for cross-section dependence using cross-section averages in the spirit of the...
Persistent link: https://www.econbiz.de/10012010208