The convergence hypothesis in growth theory implies that the frequency of the density distribution of GDP in a cross-section of countries tends to approach unimodality as we move forward in time. The convergence theory in a cross-section of 119 countries is tested by means of bootstrap...

One of the stylized facts of unemployment is that shifts in its mean rate between decades and half-decades account for most of its variance. In this paper, the authors use a statistical analysis based on switching regression models and non-parametric density estimation techniques to identify the...