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TRENDS IN LONG‐RUN VERSUS CROSS‐SECTION EARNINGS INEQUALITY IN THE 1970s AND 1980s

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  • Jermey Arkes

Abstract

This paper uses the PSID to assess the changes in earnings mobility and to compare the changes in cross‐section and long‐run inequality in the 1970s and 1980s. Previous inequality studies have primarily used measures of cross‐section inequality. However, long‐run inequality depends not only on cross‐section inequality, but also on the degree of earnings mobility, which equalizes earnings over time. I find that earnings mobility increased during the 1970s, but fell during the 1980s. Consistent with this result, the increase in cross‐section inequality overstated the true increase during the 1970s, but understated the true increase in inequality during the 1980s.

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  • Jermey Arkes, 1998. "TRENDS IN LONG‐RUN VERSUS CROSS‐SECTION EARNINGS INEQUALITY IN THE 1970s AND 1980s," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 44(2), pages 199-213, June.
    • Handle: RePEc:bla:revinw:v:44:y:1998:i:2:p:199-213
    DOI: 10.1111/j.1475-4991.1998.tb00268.x
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