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Original Articles

On the measurement of convergence as an ongoing process

Pages 363-365 | Published online: 25 Mar 2008
 

Abstract

Time-varying parameter techniques are commonly used to examine whether convergence in income has been a stable process. This article incorporates additional local features to a model studying 14 EU countries, thereby providing better estimates of the current state of the system when the relative income series are highly nonlinear.

Notes

1 Detailed descriptions of the Kalman filter recursive algorithm can be found in Cuthbertson et al . (Citation1992, Ch. 7) and Hamilton (Citation1994a, Citationb, Ch. 13).

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