Factors behind income growth are hard to fathom

Assessing the factors involved in income growth is difficult because small changes in the relative fit of certain models can lead to substantial differences regarding growth determinants, research published by the European Central Bank finds.

The research investigates which explanatory variables influence income growth by treating all variables as symmetrically a priori. It finds that relatively small differences in the relative fit of certain models, caused by, for example, Penn World Table

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