Phillips, Peter C.B.; Sul, Donggyu - Cowles Foundation for Research in Economics, Yale University - 2007
to a constant, a form of panel convergence holds, analogous to the concept of conditional sigma convergence. The paper … procedures of estimation and testing. In particular, a simple regression based convergence test is developed, whose asymptotic … properties are analyzed under both null and local alternatives, and a new method of clustering panels into club convergence …