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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

Abstract: 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
Date: 2017-08
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