Most of the earlier studies on the convergence of income in China are based on provincial level data with a few papers focusing on intra-provincial units’ transitional dynamics. The objective of this study is to fill the void in the literature by using county-level data which cover 1485...

We conduct a comparison of the two past decades in terms of US banks' capitalization mobility and persistence, adopting a Markov Chain setup, based on the FDIC discretized version of capital ratio. We document several substantial differences in the anatomy of the two periods. In particular,...

This paper estimates depth of reasoning in an Iterative Best Response model using data from Weber (<CitationRef CitationID="CR20">2003</CitationRef>) ten-period repeated guessing game with no feedback. Different mixture models are estimated and the type (Level-0, Level-1, etc) of each player is determined in every round using the...</citationref>

This paper analyzes the dynamics of the distributions of per capita Gross Domestic Product (GDP), the infant mortality rate, and the adult literacy rate across states in Mexico between 1994 and 2000. It analyzes the hypothesis of convergence to a common l