We use US county-level data to estimate convergence rates for 22 individual states. We find significant heterogeneity. E.g., the California estimate is 19.9% and the New York estimate is 3.3%. Convergence rates are essentially uncorrelated with income levels.
Bibliographical noteFunding Information:
We are grateful to the referee for constructive comments that helped us improve the manuscript. We thank Steven Durlauf, Jordan Rappaport and Jerry Thursby for helpful comments and suggestions and Paul Evans for answering our questions. We are grateful to Jordan Rappaport for kindly sharing with us data and computer codes. Matthew Higgins acknowledges financial assistance from a National Science Foundation IGERT Fellowship and The Imlay Professorship. Daniel Levy gratefully acknowledges financial support from Adar Foundation of the Economics Department at Bar-Ilan University. All errors are our own.
- Conditional convergence
- Economic growth
- US county level data