Kuznets Curve for the US: A Reconsideration Using Cosummability
Adnen Ben Nasr (),
Mehmet Balcilar (),
Seyi Akadiri () and
Rangan Gupta ()
No 201763, Working Papers from University of Pretoria, Department of Economics
The relationship between long-run economic growth and income inequality has gained a growing attention in economic research for over decades. This study employed advanced time series techniques to examine the existence of an inverted U-shaped long-run relationship between economic growth and income inequality. Using long-span and very recent data for the United States, for the periods 1917 to 2012, and the concept of summability, balancedness and co-summability, which was advanced to analyze nonlinear long-run relations among stochastic processes. The empirical results find no evidence in support of nonlinear long-run (inverted U-shaped) relationship for the US, but findings from vocal set of economists strongly lends the basis upon which conclusions are drawn in this study.
Keywords: Income inequality; economic growth; summability; balancedness; co-summability (search for similar items in EconPapers)
JEL-codes: C22 E62 F34 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-his and nep-mac
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Persistent link: https://EconPapers.repec.org/RePEc:pre:wpaper:201763
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