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The dependence structure of income distribution

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  • David M. Zimmer
  • H. Youn Kim

Abstract

This article investigates the dependence structure of income distribution in the US by providing two approaches -- one regression-based and the other copula-based -- to reveal new information about income dependence. The system of Seemingly Unrelated Regressions (SUR) is estimated for both quintile income shares and mean income growth by controlling for macroeconomic variables, and Kendall's tau statistics are derived for income dependence. Results from less restrictive copula models corroborate the regression-based results. However, income growth models do not support the common claim that the rich are getting richer while the poor are getting poorer. Income dependence patterns do not appear to be affected by business cycles, but Democratic and Republican presidential administrations have drastically different income dependence results.

Suggested Citation

  • David M. Zimmer & H. Youn Kim, 2012. "The dependence structure of income distribution," Applied Economics, Taylor & Francis Journals, vol. 44(27), pages 3573-3583, September.
    • Handle: RePEc:taf:applec:44:y:2012:i:27:p:3573-3583
    DOI: 10.1080/00036846.2011.577028
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    References listed on IDEAS

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    1. Blinder, Alan S & Esaki, Howard Y, 1978. "Macroeconomic Activity and Income Distribution in the Postwar United States," The Review of Economics and Statistics, MIT Press, vol. 60(4), pages 604-609, November.
    2. Deb, Partha & Trivedi, Pravin K & Varangis, Panayotis, 1996. "The Excess Co-movement of Commodity Prices Reconsidered," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 11(3), pages 275-291, May-June.
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