The Trend Behavior of Alternative Income Inequality Measures in the United States from 1947-1990 and the Structural Break

Baldev Raj and Daniel Slottje

Journal of Business & Economic Statistics, 1994, vol. 12, issue 4, 479-87

Abstract: This paper tests the hypothesis that the time-series process of income inequality has experienced a structural break. The timing of the structural break is treated as an unknown parameter to be estimated from the data because it is not possible to associate a single episodic policy event with the break year and to avoid bias in favor of a unit root hypothesis if the break was near the selected year. For several measures of income inequality, a segmented trend model is more appropriate to account for the fundamentals affecting the behavior of income inequality as opposed to a stochastic trend model.

Date: 1994
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Persistent link: https://EconPapers.repec.org/RePEc:bes:jnlbes:v:12:y:1994:i:4:p:479-87

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