Abstract
This paper introduces package ConvergenceClubs, which implements functions to perform the Phillips and Sul (2007, 2009) club convergence clustering procedure in a simple and reproducible manner. The approach proposed by Phillips and Sul to analyse the convergence patterns of groups of economies is formulated as a nonlinear time varying factor model that allows for different time paths as well as individual heterogeneity. Unlike other approaches in which economies are grouped a priori, it also allows the endogenous determination of convergence clubs. The algorithm, usage, and implementation details are discussed.
Lingua originale | English |
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pagine (da-a) | 142-151 |
Numero di pagine | 10 |
Rivista | THE R JOURNAL |
Volume | 11 |
Stato di pubblicazione | Published - 2019 |
All Science Journal Classification (ASJC) codes
- ???subjectarea.asjc.2600.2613???
- ???subjectarea.asjc.2600.2612???
- ???subjectarea.asjc.1800.1804???