Young, Andrew T.; Higgins, Matthew J.; Levy, Daniel - In: Journal of Money, Credit and Banking 40 (2008) 5, pp. 1083-1093
In this paper, we outline (i) why σ-convergence may not accompany β-convergence, (ii) discuss evidence of β-convergence in the United States, and (iii) use U.S. county-level data containing over 3,000 cross-sectional observations to demonstrate that σ-convergence cannot be detected at the...
