Spatial growth volatility;
Non-linear growth;
Age-structured human capital;
Semi-parametric VAR;
D O I:
10.1016/j.econlet.2008.12.014
中图分类号:
F [经济];
学科分类号:
02 ;
摘要:
We study dynamic output co-movements in Europe in a spatial setting where proportion of human capital and its appropriation pattern in production define distance among countries. Significant spatial output and shock correlations are found suggesting possible welfare-enhancing cross-country policy coordination. (C) 2008 Elsevier B.V. All rights reserved.