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This paper examines the long-run trends in per-capita income across the US states (1929-2005). Our analysis advocates and implements a Vector Error Correction Model (VECM), in order to investigate whether disparities in per-capita income embody a stable long-run relation. The empirical...
Persistent link: https://www.econbiz.de/10010224805
economic systems of regions. Based on an extensive set of economic data for Finnish regions, the existence of cointegration is … similar results and confirm cointegration for the relevant data on Finnish regions. This long-run relationship in Finland … appears to be very similar to that found elsewhere in the literature. Okuns Law ; (hidden) cointegration ; asymmetry …
Persistent link: https://www.econbiz.de/10009127852
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This paper examines the long-run trends in per-capita income across the US states (1929-2005). Our analysis advocates and implements a Vector Error Correction Model (VECM), in order to investigate whether disparities in per-capita income embody a stable long-run relation. The empirical...
Persistent link: https://www.econbiz.de/10013074631
? This exercise involves applying an econometric methodology consisting of unit root testing, cointegration analysis, vector …
Persistent link: https://www.econbiz.de/10011256765
methodology consisting of unit root testing, cointegration analysis, vector error correction modeling (VECM), and Granger …
Persistent link: https://www.econbiz.de/10010326468
Persistent link: https://www.econbiz.de/10012195986
Most economists measure labor productivity based on activities conducted at places of work and do not consider leisure time in their calculations. In contrast, psychologists and sociologists argue that leisure has a positive role in the production process: leisure can improve individuals’...
Persistent link: https://www.econbiz.de/10012028864