In this paper, we tested the catching-up hypothesis toward the USA using Becker et al. (2006) flexible Fourier KPSS stationary test over the period 1960-2009. The mentioned test could control for unknown number and form of structural breaks using a selected frequency component of a Fourier function. Our results show almost poor countries stay poor and almost rich countries stay rich. South Kore...

Abstract This paper attempts to re-investigate the catching-up (stochastic convergence) hypothesis among the selected 16 OECD countries applying the time series approach of convergence hypothesis with annual data over one century. To reach this aim, we propose a model which specifies a trend function, incorporating both types of structural breaks – that is, sharp breaks and smooth shifts usin...

We propose a generalization of expected utility that we call generalized EU (GEU), where a decision maker’s beliefs are represented by plausibility measures and the decision maker’s tastes are represented by general (i.e., not necessarily real-valued) utility functions. We show that every agent, “rational” or not, can be modeled as a GEU maximizer. We then show that we can customize GEU by sele...

Free AccessImportant Keywordshttps://doi.org/10.14220/9783737013444.259SectionsPDF/EPUB ToolsAdd to favoritesDownload CitationsTrack Citations ShareShare onFacebookTwitterLinkedInRedditEmail About Previous chapter Next FiguresReferencesRelatedDetails Download book coverOsnabrücker Studien zur Jüdischen und Christlichen Bibel.Volume 8 1st editionISBN: 978-3-8471-1344-7 eISBN: 978-3-7370-1344-4Hi...

this paper has examined the phenomenon of convergence of per capita out put levels across the ic countries for the 1960-1998 periods. three concepts of convergence, i.e., sigma beta and relative beta, have been used. the estimated beta values reveals only a very weak convergence (?=.0014) across ic for 1960-1998 period. but when a more homogeneous group of countries were selected, the results s...

â  â â â  â  abstract â  this paper examines convergence of real gdp per capita in the selected east asian countries and this relationship with selected middle east countries during the period 1950-2009. the reason behind this refers to the fact that east asia countries (including china, hong kong, singapore, malaysia, indonesia, thailand, japan and south korea) have been involved in achieving ...