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Trends, Breaks and Persistence in Top Income Shares

Atanu Ghoshray, Issam Malki and Javier Ordóñez ()

No 2020/12, Working Papers from Economics Department, Universitat Jaume I, Castellón (Spain)

Abstract: We examine the top income share data of a sample of countries to empirically examine for the presence of structural breaks, linear trends and persistence. The analysis of the data is carried out separately for each individual country using novel econometric procedures that are both appropriate and robust. Various theories have been put forward to explain the causes of structural breaks in long run data, such as the introduction of assembly lines from the time of World War I and the ICT revolution. What we find is that there is no clear evidence that Anglo Saxon countries have similar trends as opposed to Nordic, Continental European or other Asian countries. The results are varied and no clear conclusion can be made. Further, the top income share data is found to be highly persistent, suggesting that shocks to the data are likely to be long-lived.

Keywords: Unit Roots; Top Income Shares; Structural Breaks (search for similar items in EconPapers)
JEL-codes: C22 C32 N30 (search for similar items in EconPapers)
Pages: 21 pages
Date: 2020
New Economics Papers: this item is included in nep-gro, nep-his, nep-ict and nep-sea
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Persistent link: https://EconPapers.repec.org/RePEc:jau:wpaper:2020/12

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