This paper introduces package ConvergenceClubs, which implements functions to perform the Phillips and Sul (2007, 2009) club convergence clustering procedure in a simple and reproducible manner. The approach proposed by Phillips and Sul to analyse the convergence patterns of groups of economies is formulated as a nonlinear time varying factor model that allows for different time paths as well as individual heterogeneity. Unlike other approaches in which economies are grouped a priori, it also allows the endogenous determination of convergence clubs. The algorithm, usage, and implementation details are discussed.

Sichera, R., & Pizzuto, P. (2019). ConvergenceClubs: A Package for Performing the Phillips and Sul's Club Convergence Clustering Procedure. THE R JOURNAL, 11(2), 142-151 [10.32614/RJ-2019-021].

ConvergenceClubs: A Package for Performing the Phillips and Sul's Club Convergence Clustering Procedure

Sichera, Roberto
;
Pizzuto, Pietro
2019

Abstract

This paper introduces package ConvergenceClubs, which implements functions to perform the Phillips and Sul (2007, 2009) club convergence clustering procedure in a simple and reproducible manner. The approach proposed by Phillips and Sul to analyse the convergence patterns of groups of economies is formulated as a nonlinear time varying factor model that allows for different time paths as well as individual heterogeneity. Unlike other approaches in which economies are grouped a priori, it also allows the endogenous determination of convergence clubs. The algorithm, usage, and implementation details are discussed.
Sichera, R., & Pizzuto, P. (2019). ConvergenceClubs: A Package for Performing the Phillips and Sul's Club Convergence Clustering Procedure. THE R JOURNAL, 11(2), 142-151 [10.32614/RJ-2019-021].
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Utilizza questo identificativo per citare o creare un link a questo documento: http://hdl.handle.net/10447/471471
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