Add to ORKGA key prediction of standard models of economic growth is that the output-capital ratio is constant along the economy’s balanced growth path. Using data for 16 OECD countries over 135 years we examine whether the output-capital ratio reverts to a constant in the long run using univariate and panel stationarity tests with structural breaks. Univariate unit root tests with one and two breaks in the mean suggest that, in most circumstances, the output-capital ratio fails to revert towards a mean. However, when we allow for up to five breaks in the mean we find that for 15 of the 16 countries, the output-capital ratio is stationary and that the output-capital ratio is also panel stationary
The purpose of this paper is to explain differences in the productivity of investment across 84 rich...
We propose a new methodology in order to study the stability of output growth over 135 years for 19 ...
This paper applies recently developed heterogeneous nonlinear and linear panel unit root tests that...
A key prediction of standard models of economic growth is that the output-capital ratio is constant ...
This paper is concerned with the role of the output-capital ratio in growth models. In the first par...
This paper is concerned with the role of the output-capital ratio in growth models. In the first par...
abstract (conclusion): 1) it is not evident when one examines table 1, that the overall marginal pro...
Standard macroeconomic models suggest that the ‘great ratios ’ of con-sumption to output and investm...
The paper re-examines the “stylized facts” of the balanced growth in developed economies, looking sp...
This paper applies recently developed heterogeneous non-linear and linear panel unit root tests that...
International audienceHow do aggregate wealth-to-income ratios evolve in the long run and why? We ad...
IN the previous chapter we proposed a general framework linking the secular behavior of net capital ...
This paper provides evidence on the stationarity of the consumption–income ratio from a panel of 20 ...
In this paper we estimate the long-run relationships between total factor productivity and three typ...
We propose a new methodology to study the stability of steady-state growth. Long-run GDP per capita ...
The purpose of this paper is to explain differences in the productivity of investment across 84 rich...
We propose a new methodology in order to study the stability of output growth over 135 years for 19 ...
This paper applies recently developed heterogeneous nonlinear and linear panel unit root tests that...
A key prediction of standard models of economic growth is that the output-capital ratio is constant ...
This paper is concerned with the role of the output-capital ratio in growth models. In the first par...
This paper is concerned with the role of the output-capital ratio in growth models. In the first par...
abstract (conclusion): 1) it is not evident when one examines table 1, that the overall marginal pro...
Standard macroeconomic models suggest that the ‘great ratios ’ of con-sumption to output and investm...
The paper re-examines the “stylized facts” of the balanced growth in developed economies, looking sp...
This paper applies recently developed heterogeneous non-linear and linear panel unit root tests that...
International audienceHow do aggregate wealth-to-income ratios evolve in the long run and why? We ad...
IN the previous chapter we proposed a general framework linking the secular behavior of net capital ...
This paper provides evidence on the stationarity of the consumption–income ratio from a panel of 20 ...
In this paper we estimate the long-run relationships between total factor productivity and three typ...
We propose a new methodology to study the stability of steady-state growth. Long-run GDP per capita ...
The purpose of this paper is to explain differences in the productivity of investment across 84 rich...
We propose a new methodology in order to study the stability of output growth over 135 years for 19 ...
This paper applies recently developed heterogeneous nonlinear and linear panel unit root tests that...