We test the hypotheses of industry return rates either gravitating around or converging towards a common value in Taiwan and New Zealand. We adopt various econometric approaches. The results are then nested in a meta-analytic framework together with...

In this paper we test for the gravitation of regulating return rates, namely those return rates yielded by capital goods incorporating the best methods of production. We define them within a vintage capital model taking into consideration capacity...

Although it is well known that Markov process theory, frequently applied in the literature on income convergence, imposes some very restrictive assumptions upon the data generating process, these assumptions have generally been taken for granted so...

This paper analyzes the impact of different individual skills and their economy-wide distribution on a country’s catching up-process to the world technology frontier.

The hypotheses of sectoral return rates on regulating capital either gravitating around or converging towards a common value is tested on data for various OECD countries by adopting two panel varying coefficient approaches. Our null hypotheses...

Since 2004, risk in the context of nanotechnologies has been criticized as being too abstract and an all-inclusive category. Moreover, the concept of ri

The paper takes into account both the concerns of the EU, arguing that convergence is incomplete, and the demands from accession countries, claiming that monetary integration is optimal. Indicators are developed which measure convergence and...

Hedonic theory assumes that changes in land prices and wage rates eliminate the utility advantages of differing locations. Using happiness data from the German socio-economic panel this paper empirically tests whether regional utility differences...

We hypothesize that North-South trade is associated with knowledge spillovers that create labor productivity gains depending on various aspects of Southern absorptive capacity. We use the novel World Input-Output Database (WIOD) that provides...

Tests are offered for the hypotheses that sectoral average profit rates and incremental return rates are gravitating around or converging towards a common value. We study data for various OECD countries relying on an econometric method able to...