This paper illustrates the importance of accounting for cross-correlations among panel data sets in examining stationarity. Strazicich et al. (2004) utilized the LM unit root tests with two trend shifts to examine the income convergence among twenty-one OECD countries. We revisit their analysis...

Over the past quarter century, the great wave of financial liberalization, together with advances in information-processing-technology and finance theory, created severe competitive pressures on both the asset and liability sides of bank balance sheets and, on the positive side, allowed banks to...

This work calculates coefficients of spatial inequalities of wealth amongst Brazilian municipalities, for each year for the period from 1920 to 2016, states of the federation, from 1939 to 2017, and amongst municipalities from each of the five Brazilians' macro-regions, from 1920 to 2016. The...