Multiple trend shifts and unit roots in US state income levels : implications for long-run growth

Auteur :
ROMERO-ÁVILA, D.

Description :
T.#The paper examines the presence of a unit root in real per capita personal income for 49 US states over the period 1929-2004. Employing a panel stationarity test which incorporates multiple level and slope shifts, the A. finds clear-cut evidence of regime-wise trend stationarity after controlling for cross-correlation. Estimates of steady-state growth paths indicate that growth rates have slowed down for about one half of the states while increasing for the other half.


Type de document :
Article de périodique

Source :
The Annals of regional science, issn : 0570-1864, 2012, vol. 48, n°. 3, p. 641-661, nombre de pages : 21, Références bibliographiques : 43 ref.

Date :
2012

Editeur :
Pays édition : Allemagne, Berlin, Springer