Divergence, convergence, and the history-augmented Solow model

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.

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Year of publication:	2017
Authors:	Kufenko, Vadim ; Prettner, Klaus ; Geloso, Vincent
Publisher:	Stuttgart : Universität Hohenheim, Fakultät Wirtschafts- und Sozialwissenschaften
Subject:	history-augmented Solow model \| divergence \| convergence \| cross-country inequality

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Series:	Hohenheim Discussion Papers in Business, Economics and Social Sciences ; 11-2017
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	893324094 [GVK] hdl:10419/162788 [Handle] RePEc:zbw:hohdps:112017 [RePEc]
Classification:	J11 - Demographic Trends and Forecasts ; O11 - Macroeconomic Analyses of Economic Development ; O47 - Measurement of Economic Growth; Aggregate Productivity
Source:	EconStor

Persistent link: https://www.econbiz.de/10011672943