The Effect of Growth Volatility on Income Inequality

淡江大學機構典藏 > 商管學院 > 財務金融學系暨研究所 > 期刊論文 > Item 987654321/99604

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题名:	The Effect of Growth Volatility on Income Inequality
作者:	黃河泉 Huang, H. C., Fang, W. S., Miller, S., and Yeh, C. C.
日期:	2015-02-01
上传时间:	2014-12-04 15:12:41 (UTC+8)
摘要:	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
關聯:	Economic Modelling
DOI:	10.1016/j.econmod.2014.11.020
显示于类别:	[財務金融學系暨研究所] 期刊論文

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