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Non-stationary transition matrices: An overlooked issue in intra-distribution dynamics

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  • Hierro, María
  • Maza, Adolfo

Abstract

Previous papers dealing with the dynamics of income distributions have generally assumed stationary transition probabilities, effectively ruling out the possibility that intra-distribution dynamics change over time. This paper shows that the Chapman-Kolmogorov equation can be used to capture this added complexity. The paper also emphasizes that a test for stationarity should be carried out routinely because the stationarity assumption could lead to misleading conclusions.

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File URL: http://www.sciencedirect.com/science/article/B6V84-4VT0X10-1/2/980bdf4b91608eae8da7d8861c463f77
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Bibliographic Info

Article provided by Elsevier in its journal Economics Letters.

Volume (Year): 103 (2009)
Issue (Month): 2 (May)
Pages: 107-109

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Handle: RePEc:eee:ecolet:v:103:y:2009:i:2:p:107-109

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Web page: http://www.elsevier.com/locate/ecolet

Related research

Keywords: Transition matrix Stationarity Chapman-Kolmogorov equation;

References

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  1. Quah, Danny T., 1996. "Empirics for economic growth and convergence," European Economic Review, Elsevier, vol. 40(6), pages 1353-1375, June.
  2. Quah, Danny, 1993. "Empirical cross-section dynamics in economic growth," European Economic Review, Elsevier, vol. 37(2-3), pages 426-434, April.
  3. Antonio J. Mora & Esther Vayá & Jordi Suriñach & Enrique López-Bazo, 1999. "original: Regional economic dynamics and convergence in the European Union," The Annals of Regional Science, Springer, vol. 33(3), pages 343-370.
  4. Fotopoulos, Georgios, 2006. "Nonparametric analysis of regional income dynamics: The case of Greece," Economics Letters, Elsevier, vol. 91(3), pages 450-457, June.
  5. Catherine Baumont & Cem Ertur & Julie Le Gallo, 2002. "The European Regional Convergence Process, 1980-1995: Do Spatial Regimes and Spatial Dependence Matter?," Econometrics 0207002, EconWPA.
  6. Emili Tortosa-Ausina & Francisco Pérez & Matilde Mas & Francisco J. Goerlich, 2005. "Growth and Convergence Profiles in the Spanish Provinces (1965-1997)," Journal of Regional Science, Wiley Blackwell, vol. 45(1), pages 147-182.
  7. Magrini, Stefano, 1999. "The evolution of income disparities among the regions of the European Union," Regional Science and Urban Economics, Elsevier, vol. 29(2), pages 257-281, March.
  8. Quah, Danny, 1997. "Empirics for Growth and Distribution: Stratification, Polarization, and Convergence Clubs," CEPR Discussion Papers 1586, C.E.P.R. Discussion Papers.
  9. Quah, Danny T, 1997. " Empirics for Growth and Distribution: Stratification, Polarization, and Convergence Clubs," Journal of Economic Growth, Springer, vol. 2(1), pages 27-59, March.
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Cited by:
  1. Tuomas, Malinen, 2011. "Inequality and savings: a reassesment of the relationship in cointegrated panels," MPRA Paper 33350, University Library of Munich, Germany.
  2. Tuomas Malinen, 2011. "Income Inequality and Savings: A Reassessment of the Relationship in Cointegrated Panels," DEGIT Conference Papers c016_076, DEGIT, Dynamics, Economic Growth, and International Trade.

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