Resource title

Markov or not Markov - this should be a question

Resource image

image for OpenScout resource :: Markov or not Markov - this should be a question

Resource description

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 far. The present paper proposes, resp. recalls chi-square tests of the Markov property, of spatial independence, and of homogeneity across time and space to assess the reliability of estimated Markov transition matrices. As an illustration we show that the evolution of the income distribution across the 48 coterminous U.S. states from 1929 to 2000 clearly has not followed a Markov process.

Resource author

Frank Bickenbach, Eckhardt Bode

Resource publisher

Resource publish date

Resource language

eng

Resource content type

text/html

Resource resource URL

http://hdl.handle.net/10419/2673

Resource license

Adapt according to the presented license agreement and reference the original author.