Initial Values and Income Convergence: Do “The Poor Stay Poor”?
对美国各州收入趋同速度的面板数据估计发现趋同速度很快，但初始收入模式难以用该模型解释；模拟表明假设真实趋同缓慢能更自然地解释该模式。
A panel data estimation finds a high speed of income convergence among the U.S. states. However, initial incomes show a pattern which is difficult to explain by the estimated model. A simulation study shows that this pattern can be explained much more naturally when we assume that true convergence is slow. 2004 President and Fellows of Harvard College and the Massachusetts Institute of Technology.