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    Please use this identifier to cite or link to this item: http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/99604

    Title: The Effect of Growth Volatility on Income Inequality
    Authors: 黃河泉
    Huang, H. C., Fang, W. S., Miller, S., and Yeh, C. C.
    Date: 2015-02-01
    Issue Date: 2014-12-04 15:12:41 (UTC+8)
    Abstract: This paper assesses the long-run effect of growth volatility on income inequality using a comprehensive panel of annual U.S. state-level data during the 1945 to 2004 period. Using the pooled mean group (PMG) estimator, we find evidence supporting the hypothesis that larger growth volatility positively and significantly associates with higher income inequality. Our key finding is robust to alternative lag structures, conditioning variables, inequality measures, volatility indicators, time periods, and panel estimators. Our key finding does change for asymmetric effects, where larger growth volatility positively and significantly associates with higher income inequality only for positive economic growth. The volatility effect proves positive, but insignificant, for negative economic growth
    Relation: Economic Modelling
    DOI: 10.1016/j.econmod.2014.11.020
    Appears in Collections:[Graduate Institute & Department of Banking and Finance] Journal Article

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