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The Determinants of the Very Highest Income Shares: The Case of France

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  • DiPietro, William R.
  • Anoruo, Emmanuel
  • Sawhney, Bansi

Abstract

Since the highest income groups have tremendous influence over economic policy by virtue of money, position, and connection, it is important to identify the interest of these groups with regard to economic conditions. Recently, annual time series data on the shares of the very highest income groups have become available for the French economy. Using this new high-income share data for France, this paper examines the potential relationship between the income shares of the very highest income groups and four macroeconomic variables including the inflation rate, the interest rate, the unemployment rate, and the extent of trade. To be specific, this paper investigates the extent to which the four macroeconomic variables affect the highest income shares. The results indicate that the inflation rate, the interest rate, the unemployment rate, and the extent of trade are important determinants of the top most income shares in France.

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Bibliographic Info

Article provided by Review of Applied Economics in its journal Review of Applied Economics.

Volume (Year): 1 (2005)
Issue (Month): 2 ()
Pages:

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Handle: RePEc:ags:reapec:50275

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Web page: http://www.lincoln.ac.nz/story11874.html

Related research

Keywords: Income inequality; interest rate; unemployment rate; France; Fully modified OLS; International Development; A10;

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References

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  1. Johansen, Soren, 1991. "Estimation and Hypothesis Testing of Cointegration Vectors in Gaussian Vector Autoregressive Models," Econometrica, Econometric Society, vol. 59(6), pages 1551-80, November.
  2. DiPietro, William R. & Anoruo, Emmanuel & Sawhney, Bansi, 2005. "Macroeconomic Determinants of the Income Shares of the Very Highest Income Groups," Review of Applied Economics, Review of Applied Economics, vol. 1(1).
  3. DiPietro , William R. & Sawhney, Bansi, 2002. "Development and Inequality," Economia Internazionale / International Economics, Camera di Commercio di Genova, vol. 55(3), pages 311-321.
  4. Granger, C. W. J., 1981. "Some properties of time series data and their use in econometric model specification," Journal of Econometrics, Elsevier, vol. 16(1), pages 121-130, May.
  5. Granger, Clive W J, 1986. "Developments in the Study of Cointegrated Economic Variables," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 48(3), pages 213-28, August.
  6. Thomas Piketty & Emmanuel Saez, 2003. "Income Inequality In The United States, 1913-1998," The Quarterly Journal of Economics, MIT Press, vol. 118(1), pages 1-39, February.
  7. David M. Cutler & Lawrence F. Katz, 1991. "Macroeconomic Performance and the Disadvantaged," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 22(2), pages 1-74.
  8. International Monetary Fund, 2002. "Financial Crises, Poverty, and Income Distribution," IMF Working Papers 02/4, International Monetary Fund.
  9. David S. Johnson & Stephanie Shipp, 1999. "note: Inequality and the business cycle: A consumption viewpoint," Empirical Economics, Springer, vol. 24(1), pages 173-180.
  10. Clarke, George R. G., 1992. "More evidence on income distribution and growth," Policy Research Working Paper Series 1064, The World Bank.
  11. David A. Dickey & Dennis W. Jansen & Daniel L. Thornton, 1991. "A primer on cointegration with an application to money and income," Review, Federal Reserve Bank of St. Louis, issue Mar, pages 58-78.
  12. Anand, Sudhir & Kanbur, S. M. R., 1993. "Inequality and development A critique," Journal of Development Economics, Elsevier, vol. 41(1), pages 19-43, June.
  13. Ahluwalia, Montek S., 1976. "Inequality, poverty and development," Journal of Development Economics, Elsevier, vol. 3(4), pages 307-342, December.
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