International output convergence: evidence from an autocorrelation function approach
用自相关函数方法检验国际产出收敛，基于15个OECD国家百年人均GDP数据，发现条件收敛假说不成立，线性新古典增长模型无法复制这些经济体的转型动态。
Abstract This paper uses an autocorrelation function (ACF) approach to develop a new testing procedure for international output convergence. We define convergence in terms of sample ACFs of detrended output per capita, and construct an inference set‐up based on resampling and subsampling techniques for dependent data. Using per capita GDP for 15 OECD countries observed over a century, we find that the hypothesis of conditional convergence is unsupported; that, the USA apart, the linearized neoclassical growth model fails to replicate the transitional dynamics of OECD economies; and that these economies do not behave like a club. Copyright © 2008 John Wiley & Sons, Ltd.