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The Trend Behavior of Alternative Income Inequality Measures in the United States from 1947-1990 and the Structural Break

Author

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  • Raj, Baldev
  • Slottje, Daniel J

Abstract

This 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.

Suggested Citation

  • Raj, Baldev & Slottje, Daniel J, 1994. "The Trend Behavior of Alternative Income Inequality Measures in the United States from 1947-1990 and the Structural Break," Journal of Business & Economic Statistics, American Statistical Association, vol. 12(4), pages 479-487, October.
  • Handle: RePEc:bes:jnlbes:v:12:y:1994:i:4:p:479-87
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    Cited by:

    1. Chun-Yu Ho & Dan Li, 2008. "Rising regional inequality in China: Policy regimes and structural changes," Papers in Regional Science, Wiley Blackwell, vol. 87(2), pages 245-259, June.
    2. repec:oup:oxecpp:v:69:y:2017:i:4:p:847-869. is not listed on IDEAS
    3. 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.
    4. Ozan EksiBy, 2017. "Lower volatility, higher inequality: are they related?," Oxford Economic Papers, Oxford University Press, vol. 69(4), pages 847-869.
    5. 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.
    6. 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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