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Income distribution in the United States: Kuznets' inverted-U hypothesis and data non-stationarity

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  • Peter Jacobsen
  • David Giles

Abstract

The hypothesis that income distribution follows an inverted-U pattern with respect to economic growth has been tested against US time-series data by several authors, and rejected. We reconsider this issue, paying special attention to data non-stationarity, and the use of 'unbalanced' Seemingly Unrelated Regressions estimation. We also reject the hypothesis, but find that minimum income inequality occurred at different times for different ethnic groups, and at later dates than suggested by previous studies.

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Bibliographic Info

Article provided by Taylor & Francis Journals in its journal The Journal of International Trade & Economic Development.

Volume (Year): 7 (1998)
Issue (Month): 4 ()
Pages: 405-423

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Handle: RePEc:taf:jitecd:v:7:y:1998:i:4:p:405-423

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Related research

Keywords: Income distribution; Gini coefficient; inverted U; time-series data;

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Cited by:
  1. David E. A. Giles & Robert Draeseke, 2001. "Econometric Modelling based on Pattern recognition via the Fuzzy c-Means Clustering Algorithm," Econometrics Working Papers 0101, Department of Economics, University of Victoria.
  2. Gerardo Angeles-Castro, 2006. "The relationship between economic growth and inequality: evidence from the age of market liberalism," DEGIT Conference Papers c011_009, DEGIT, Dynamics, Economic Growth, and International Trade.
  3. Gerardo Angeles-Castro, 2006. "The Relationship Between Economic Growth and Inequality: Evidence from the Age of Market Liberalism," Studies in Economics 0601, Department of Economics, University of Kent.
  4. Virginia Maestri & Andrea Roventini, 2012. "Inequality and Macroeconomic Factors: A Time-Series Analysis for a Set of OECD Countries," Working Papers 34/2012, University of Verona, Department of Economics.
  5. Angeles-Castro, Gerardo, 2006. "The relationship between economic growth and inequality: evidence from the age of market liberalism," Proceedings of the German Development Economics Conference, Berlin 2006 2, Verein für Socialpolitik, Research Committee Development Economics.
  6. Giles, David E.A. & Feng, Hui, 2005. "Output and well-being in industrialized nations in the second half of the 20th century: testing for convergence using fuzzy clustering analysis," Structural Change and Economic Dynamics, Elsevier, vol. 16(2), pages 285-308, June.
  7. Virginia Maestri & Roventini, A. (Andrea), 2012. "GINI DP 30: Stylized Facts on Business Cycles and Inequality," GINI Discussion Papers 30, AIAS, Amsterdam Institute for Advanced Labour Studies.

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