The Trend Behavior of Alternative Income Inequality Measures in the United States from 1947-1990 and the Structural Break
AbstractThis paper tests the hypothesis that the time-series process of income inequality has experienced a structural break. The timing of the structural break is treated as an unknown parameter to be estimated from the data because it is not possible to associate a single episodic policy event with the break year and to avoid bias in favor of a unit root hypothesis if the break was near the selected year. For several measures of income inequality, a segmented trend model is more appropriate to account for the fundamentals affecting the behavior of income inequality as opposed to a stochastic trend model.
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Bibliographic InfoArticle provided by American Statistical Association in its journal Journal of Business and Economic Statistics.
Volume (Year): 12 (1994)
Issue (Month): 4 (October)
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- Baotai Wang & Tomson Ogwang, 2004. "Is the Size Distribution of Income in Canada a Random Walk?," Economics Bulletin, AccessEcon, vol. 3(29), pages 1-9.
- Xiao-Ming Li, 2004. "A Quasi-Bayesian Analysis of Structural Breaks: China's Output and Productivity Series," International Journal of Business and Economics, College of Business, and College of Finance, Feng Chia University, Taichung, Taiwan, vol. 3(1), pages 57-65, April.
- Asmaa Ahmed, 2005. "Random Walks in the Economic Dynamic Series," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 2, pages 78-100.
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