مشخصات پژوهش

عنوان	Reopening the Convergence Debate when Sharp Breaks and Smooth Shifts Wed, 1870-2010
نوع پژوهش	مقاله چاپ شده
کلیدواژه‌ها	Convergence, Trend Function, Smooth Shifts, Sharp Breaks, Catching-up.
چکیده	This paper attempts to re-investigate the catching-up (stochastic convergence) hypothesis among the selected 16 OECD countries applying the time series approach of convergence hypothesis with annual data over one century. To reach this aim, we propose a model which specifies a trend function, incorporating both types of structural breaks – that is, sharp breaks and smooth shifts using dummy variables and Fourier function respectively. In order to detect the sharp breaks, we apply the multiple structural break models (Bai & Perron, 1998) and the Fourier function proposed in Becker et al. (2004) to capture the smooth shifts. Our results show that most divergence process occurred over World War I (WWI) and World War II (WWII). Among the 69 estimated break points occurred over the period 1870-2010, 75 % of those break
پژوهشگران	زهرا میلا علمی (نفر چهارم)، چین چانگ لی (نفر سوم)، Tsangyao Chang (نفر دوم)، امید رنجبر (نفر اول)