Purpose – The purpose of this paper is to discuss the role of Markovian transitions related to the economic convergence among countries. Thus, the paper aims to develop an overview of several classical approaches, including an analysis of fallacies exposed through the literature....

Purpose: The article clarifies the wage–employment relation in a developing country. Several years ago, many articles in the United States indicated that the relation between increasing wages and increasing unemployment is unclear. These articles from the United States are insufficient to be...

Purpose – The purpose of this paper is to discuss the role of Markovian transitions related to the economic convergence among countries. Thus, the paper aims to develop an overview of several classical approaches, including an analysis of fallacies exposed through the literature....