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Everything You Know about Cross-Country Convergence Is (Now) Wrong https://www.cgdev.org/blog/everything-you-know-about-cross-country-convergence-now-wrong … Econ moves slowly. We wrote that 16 months ago, in reply to a paper published today in the JEL -->https://twitter.com/MilanV/status/1235239408443576321 …
NB: Johnson and Papageorgiou are not wrong that few studies document convergence. It's just that the literature they summarize studies facts that have now changed.
@dev_a_patel @arvindsubraman and I show that unconditional Beta-convergence now holds. Savor it while it lasts.pic.twitter.com/J8pYbgb4r0
Does it mean that development economists will soon be out of business?
As I recall, the rate of convergence implies we've got a good century or so before unemployment.
I dont want to toot my horn, but Vadim Kufenko, Klaus Prettner pointed out that demographic changes alter our understanding of convergence https://onlinelibrary.wiley.com/doi/full/10.1111/sjpe.12188?casa_token=lZGs3K0SuEYAAAAA%3AH1ZS_dsA4KN9bHGvr6oAPJwkS-p1BE9lv36I_ATSAtsiTkEfXG3jqibBDhApVh8LKFnqyrx9Puyk9aPK … its a complement to your point
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