Premium
Elasticities of ergodic solutions in the Markov chains approach to economic growth convergence *
Author(s) -
Mora Toni
Publication year - 2005
Publication title -
papers in regional science
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.937
H-Index - 64
eISSN - 1435-5957
pISSN - 1056-8190
DOI - 10.1111/j.1435-5957.2005.00007.x
Subject(s) - markov chain , convergence (economics) , economics , ergodic theory , distribution (mathematics) , econometrics , markov model , mathematics , statistics , macroeconomics , mathematical analysis
. Elasticities are estimated for long‐run solutions of Markov chains of income distribution for the European regions. The results indicate that there will be no major changes in these long‐run solutions for lower income states in the Markov chain and that effects on higher income states will be only moderate.