Egger, Peter; Pfaffermayr, Michael - In: Oxford Bulletin of Economics and Statistics 71 (2009) 4, pp. 453-473
initial values matter, convergence is best measured in terms of "σ"-convergence over a fixed time period. For this setting, we … propose a new simple Wald test for conditional "σ"-convergence. According to our Monte Carlo simulations, this test performs … well and its power is comparable with the available tests of unconditional convergence. We apply two versions of the test …