Resource title

Twin peaks : growth and convergence in models of distribution dynamics

Resource image

image for OpenScout resource :: Twin peaks : growth and convergence in models of distribution dynamics

Resource description

Convergence concerns poor economies catching up with rich ones. At is- sue is what happens to the cross sectional distribution of economies, not whether a single economy tends towards its own steady state. It is the latter, however, that has preoccupied the traditional approach to con- vergence analysis. This paper describes an alternative body of research that overcomes this shortcoming in the traditional approach. The new findings on persistence and stratification; on the formation of conver- gence clubs; and on the distribution polarizing into twin peaks of rich and poor|suggest the relevance of a class of theoretical ideas, dierent from those surrounding the production-function accounting traditionally favored.

Resource author

Resource publisher

Resource publish date

Resource language

en

Resource content type

application/pdf

Resource resource URL

http://eprints.lse.ac.uk/2278/1/Twin_Peaks_Growth_and_Convergence_in_Models_of_Distribution_Dynamics.pdf

Resource license