{"id":3056,"date":"2017-06-26T23:17:56","date_gmt":"2017-06-26T21:17:56","guid":{"rendered":"http:\/\/www.rsijournal.eu\/?p=3056"},"modified":"2017-06-26T21:19:13","modified_gmt":"2017-06-26T19:19:13","slug":"output-growth-and-convergence-in-a-greative-region-an-analysis-of-some-measurement-issues","status":"publish","type":"post","link":"https:\/\/rsijournal.eu\/?p=3056","title":{"rendered":"OUTPUT, GROWTH, AND CONVERGENCE IN A GREATIVE REGION: AN ANALYSIS OF SOME MEASUREMENT ISSUES"},"content":{"rendered":"<h2>Amitrajeet A. BATABYAL<\/h2>\n<h3>Department of Economics, Rochester Institute of Technology, 92 Lomb Memorial Drive, Rochester,  NY 14623-5604,  USA.<\/h3>\n<h3>aabgsh@rit.edu<\/h3>\n<p><strong>Abstract<\/strong><\/p>\n<p>We study some measurement issues that arise when analyzing the long run behavior of the\u00a0 j<sub>th<\/sub> creative region\u2019s time t log output per creative class member (y<sub>j<\/sub>(t)) when this region is part of an aggregate economy of j=1,&#8230;N creative regions. We focus first (second) on absolute (relative) convergence. In the absolute (relative) convergence case, the N creative regions are similar (dissimilar) in that they all have the same (different) balanced growth path (BGP) level of log output per creative class member denoted by y<sup>BGP<\/sup>(y<sub>j<\/sub><sup>BGP<\/sup>) In the absolute convergence case, we analyze how to estimate the speed of convergence parameter (\u03c3) and then discuss the relationship between the variance of y<sub>j<\/sub>(t) and that of y<sub>j<\/sub>(0) In the relative convergence case, we study the error associated with estimating \u03c3 using the methodology of the absolute convergence case. Finally, suppose y<sub>j<\/sub><sup>BGP<\/sup>= a + bX<sub>j<\/sub> where Xj is an explanatory variable such as creative capital and a and b are positive constants. Here, we study how to estimate b from our knowledge of the coefficients of a related cross-region growth regression.<\/p>\n<p><strong>Keywords:<\/strong> Convergence, Creative Capital, Economic Growth, Measurement, Output<\/p>\n<p><strong>JEL classification:<\/strong> R11, C18<\/p>\n<p><em><a href=\"http:\/\/www.rsijournal.eu\/ARTICLES\/June_2017\/1.pdf\" target=\"_blank\">read more<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Amitrajeet A. BATABYAL Department of Economics, Rochester Institute of Technology, 92 Lomb Memorial Drive, Rochester, NY 14623-5604, USA. aabgsh@rit.edu Abstract We study some measurement issues that arise when analyzing the long run behavior of the\u00a0 jth creative region\u2019s time t log output per creative class member (yj(t)) when this region is part of an aggregate&hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[181],"tags":[387,233,325,252,385,386,272],"class_list":["post-3056","post","type-post","status-publish","format-standard","hentry","category-published","tag-c18","tag-convergence","tag-creative-capital","tag-economic-growth","tag-measurement","tag-output","tag-r11"],"_links":{"self":[{"href":"https:\/\/rsijournal.eu\/index.php?rest_route=\/wp\/v2\/posts\/3056","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/rsijournal.eu\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/rsijournal.eu\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/rsijournal.eu\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/rsijournal.eu\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3056"}],"version-history":[{"count":2,"href":"https:\/\/rsijournal.eu\/index.php?rest_route=\/wp\/v2\/posts\/3056\/revisions"}],"predecessor-version":[{"id":3059,"href":"https:\/\/rsijournal.eu\/index.php?rest_route=\/wp\/v2\/posts\/3056\/revisions\/3059"}],"wp:attachment":[{"href":"https:\/\/rsijournal.eu\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3056"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rsijournal.eu\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3056"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rsijournal.eu\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3056"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}