In this paper, the authors test the convergence hypothesis in a cross-section of 119 countries by means of bootstrap multimodality tests and non parametric density estimation techniques. By looking at the density distribution of GDP across countries in 1970, 1980 and 1989, we find low mobility...

In this paper we consider the use of bootstrap methods to compute interval estimates and perform hypothesis tests for decomposable measures of economic inequality. Two applications of this approach using the Gini coefficient and Theil's entropy measures of inequality, are provided. Our first...

In Bayesian analysis of vector autoregressive models, and especially in forecasting applications, the Minnesota prior of Litterman is frequently used. In many cases other prior distributions provided better forecasts and are preferable from a theoretical standpoint. Several of these priors...

In this paper, we give a short history of our field trial experiment in applied econometrics and outline the aims of the experiment. We discuss features of our experimental design, and judge to what extent our design was successful. The difficulties of such an experiment are acknowledged. The...

Professor Tobin was invited to reflect upon the Experiment in Applied Econometrics at the workshop convened to discuss the experiment's results. He discussed his education in econometrics and the contexts both economic and technical, in which his paper of 1950 on the demand for food was written....