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    Please use this identifier to cite or link to this item: https://tkuir.lib.tku.edu.tw/dspace/handle/987654321/78468

    Title: Convergence in income inequality? evidence from panel unit root tests with structural breaks
    Authors: Lin, Pei-chien;Huang, Ho-chuan
    Contributors: 淡江大學產業經濟學系;淡江大學財務金融學系
    Keywords: Inequality;Convergence;Panel data;Structural changes
    Date: 2011-05
    Issue Date: 2012-09-30 17:29:59 (UTC+8)
    Publisher: Heidelberg: Physica-Verlag GmbH und Co.
    Abstract: This paper empirically tests whether there is evidence of convergence in income inequality, as predicted by several versions of the neoclassical growth model, using a large panel of annual data for the 48 contiguous states in the US over the 1916–2005 period. By implementing the panel LM unit root test developed by Im et al. (Oxford Bull Econ Stat 67:393–419, 2005, Panel LM unit-root tests with trend shifts, Mimeo, 2010) that allows for the presence of structural breaks and heterogeneity in the panel, we find overwhelming evidence in support of convergence in income inequality. In addition, the results are robust to alternative inequality indicators used, different notions of stochastic convergence defined, and additional cross-sectional correlation considered.
    Relation: Empirical Economics 43(1), p.153-174
    DOI: 10.1007/s00181-011-0482-z
    Appears in Collections:[Graduate Institute & Department of Banking and Finance] Journal Article
    [Graduate Institute & Department of Industrial Economics] Journal Article

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