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- and open-economy neoclassical growth theories, we examine data since 1840 from the U.S. states. We find clear evidence of … neoclassical growth model with broadly-defined capital and a limited role for diminishing returns, and endogenous growth models …
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- and open-economy neoclassical growth theories, we examine data since 1840 from the U.S. states. We find clear evidence of … neoclassical growth model with broadly-defined capital and a limited role for diminishing returns, and endogenous growth models …
Persistent link: https://www.econbiz.de/10012475612
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In this paper we outline (i) why sigma-convergence may not accompany beta-convergence, (ii) discuss evidence of beta-convergence in the U.S., and (iii) use U.S. county-level data containing over 3,000 cross-sectional observations to demonstrate that sigma-convergence cannot be detected at the...
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