Long memory in US real output per capita

Theory of Output Growth and of per Capita Output Growth: with or without Say's Law?

In a majority of the recent writings on economic growth, the term 'growth' without further qualifiers is used to mean growth of per capita output, with a striking linguistic change relative to a couple of decades ago. This linguistic change reflects the exclusive concentration on the determinants of the growth of per capita output, which characterises modern Endogenous Growth Theory. The implic...

Distribution of per Capita Income in Georgia

Regional Convergence in per Capita Personal Income in the US and Canada

This study examines regional convergence in per capita personal income in the US and Canada. We find that the disparity in real per capita income levels across US states (Canadian provinces) has declined, but income levels are not identical. Income levels become more aligned once costs of living are accounted for in relative per capita income series. US states (Canadian provinces) converge at a...

Convergence in Carbon Emissions per Capita

Convergence in cross country per capita carbon emission rates is an important concept in the climate change debate. This paper provides an empirical analysis of emissions per capita convergence. This analysis is crucial to the assessment of projection models that generate convergence in emission per capita rates and to the assessment of policy proposals that advocate imposing convergence in emi...

A Multivariate Long Memory Model for the Specification of Real Output in the US, the UK, and Canada

This paper deals with a multivariate long memory model for the specification of real output in the US, the UK, and Canada. We examine the orders of integration of the three time series first individually and then allow cross dependence between observations. Performing univariate analysis, results show that the three series have orders of integration higher than 1, especially Canada. The multiva...