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The response of household incomes to stock price and GDP growth by income quantile


  • Joachim Zietz
  • Xiaolin Zhao


How household incomes respond to GDP and stock price growth is important for an understanding of the economic costs of business cycles and the driving forces of income inequality over time. This article examines to what extent household incomes react differently across income distribution quantiles and time. It employs U.S. Panel Study of Income Dynamics data for the period 1979-2000 and quantile regression techniques. Significant differences are found in how household incomes respond across income quantiles. For the same income quantiles, large differences are identified when the time period 1979-1987 is compared to 1988-2000.

Suggested Citation

  • Joachim Zietz & Xiaolin Zhao, 2009. "The response of household incomes to stock price and GDP growth by income quantile," Applied Economics, Taylor & Francis Journals, vol. 41(12), pages 1501-1512.
  • Handle: RePEc:taf:applec:v:41:y:2009:i:12:p:1501-1512
    DOI: 10.1080/00036840601032151

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    References listed on IDEAS

    1. Giorgio Primiceri & Thijs van Rens, 2002. "Inequality over the business cycle: Estimating income risk using micro-data on consumption," Economics Working Papers 943, Department of Economics and Business, Universitat Pompeu Fabra, revised Oct 2004.
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