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Journal of Economic Geography 2004 4(5):583-595; doi:10.1093/jnlecg/lbh035
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Journal of Economic Geography, Vol. 4, No. 5, © Oxford University Press 2004; all rights reserved.

Unit root tests of sigma income convergence across us metropolitan areas

Matthew P. Drennan*, José Lobo** and Deborah Strumsky***

* Department of City and Regional Planning, Cornell University, 213 West Sibley Hall, Ithaca, NY, USA. email <mpd12{at}cornell.edu>
** Author to whom correspondence should be addressed: Santa Fe Institute, 1399 Hyde Park Road, Santa Fe, NM 87501, USA. email <jose{at}santafe.edu>
*** Harvard Business School, E1-2A Gallatin Hall, Soldiers Field Road, Boston, MA 02163, USA. email <dstrumsky{at}hbs.edu>

Abstract

The standard deviation of metropolitan per capita personal income (PCPI) and metropolitan average wage per job (AWPJ) provide straightforward indicators of unconditional sigma convergence for metropolitan economies within the United States. Using data for all metropolitan areas in the continental United States for the period 1969–2001, we tested for the unconditional sigma income convergence hypothesis by applying two unit root tests to the time series of the two standard deviations. Our results indicate that the time series can be described as random walks with drift, thereby supporting the claim that income divergence among metropolitan economies is not decreasing.

Keywords: metropolitan income convergence, unit root test,
JEL classifications: R, C1, C52
Date submitted: 6 January 2003     Date accepted: 20 April 2004


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