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Modeling Wage Inequality in the U.S. as Conditional Variation: A Time Series Approach

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  • Lonnie K. Stevans

Abstract

In this paper, we argue that wage volatility is a good proxy for wage inequality because of the strong and lagged correlation between the two. For six industry categories, inequality is modeled as a conditional variance process over the period 1964-1988. It is modified to allow for explanatory variables that have a robust theoretical basis for inclusion as determinants of wage inequality. One of the major findings is the identification of the major contributors to rising U.S. wage inequality in the 1980s: the declining real value of the minimum wage, the loss of collective bargaining gains by labor, and immigration.

Suggested Citation

  • Lonnie K. Stevans, 1999. "Modeling Wage Inequality in the U.S. as Conditional Variation: A Time Series Approach," Journal of Income Distribution, Ad libros publications inc., vol. 8(1), pages 6-6, June.
    • Handle: RePEc:jid:journl:y:1999:v:08:i:1:p:6-6
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