This paper illustrates both analytically and empirically that stochastic long-memory in economic growth arises due to the presence of a long-memory in population growth. Specifically, we show that the long-run conditional mean and variances of economic growth are functions of stochastic...

We build an analytical model to understand dynamic interlinkage between volatility in economic growth and stochastic demographic dynamics. The time series properties of the model are exploited to offer introspective understanding of the existence of persistence of endogenous and exogenous growth...

This paper seeks to address two neglected aspects of convergence dynamics of cross-country per capita income. First, we allow evolutionary path of per capita income to contain stochastic shocks which may not converge fast enough to the long-run mean. Under this condition, we show that the...