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Convergence empirics across economies with (some) capital mobility

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This paper uses a model of growth and imperfect capital mobility across multiple economies to characterize the dynamics of (cross-country) in- come distributions. This allows convenient study of the convergence hypothesis, and reveals, where appropriate, polarization and clumping within subgroups. The data show little cross-country convergence; in- stead, the important features are persistence, immobility, and polariza- tion, exemplied by \convergence club" or \twin peaks" dynamics

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en

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application/pdf

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http://eprints.lse.ac.uk/2257/1/CEP_Convergence_Empirics_Across_Economies_with_%28Some%29Capital_Mobility.pdf

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