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The article proposes a technique, based on the predictive density of the data, conditional on the parameters of the model, to jointly tests for groups of unknown size in a panel and to estimate the parameters of each group. The procedure is applied to the problem of identifying convergence clubs...
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migrates across countries with similar microeconomic specifications. Conversely, in a world where some component of permanent …
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migrates across countries with similar microeconomic specifications. Conversely, in a world where some component of permanent …
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