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The cyclical nature of family income distribution in the united states: An empirical note

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  • Shahdad Naghshpour

Abstract

This note utilizes a cubic polynomial to model the cyclical behaviour of income inequality in the U.S. from 1947 to 2000. Linear and quadratic models have been used to explain the pattern, but they are not capable of detecting more than one extreme point. The simplest model capable of detecting a cycle is a cubic polynomial. By detecting the inflection points, the model can “predict” the turning points, from convergence to divergence. The model performs better with nominal data than with real data. (JEL 015, 040) Copyright Springer 2005

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  • Shahdad Naghshpour, 2005. "The cyclical nature of family income distribution in the united states: An empirical note," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 29(1), pages 138-143, March.
    • Handle: RePEc:spr:jecfin:v:29:y:2005:i:1:p:138-143
    DOI: 10.1007/BF02761549
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    1. Laszlo Matyas & Laszlo Konya & Lachlan MaCquarie, 1998. "The Kuznets U-curve hypothesis: some panel data evidence," Applied Economics Letters, Taylor & Francis Journals, vol. 5(11), pages 693-697.
    2. Cletus C. Coughlin & Thomas B. Mandelbaum, 1988. "Why have state per capita incomes diverged recently?," Review, Federal Reserve Bank of St. Louis, issue Sep, pages 24-36.
    3. Partridge, Mark D. & Rickman, Dan S. & Levernier, William, 1996. "Trends in U.S. income inequality: Evidence from a panel of states," The Quarterly Review of Economics and Finance, Elsevier, vol. 36(1), pages 17-37.
    4. William Levernier & Dan S. Rickman & Mark D. Partridge, 1995. "Variation in U.S. State Income Inequality: 1960-1990," International Regional Science Review, , vol. 18(3), pages 355-378, July.
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    Cited by:

    1. James Alm & Ruslan Grigoryev & Marat Kramin & Timur Kramin, 2016. "Testing Kuznets’ Hypothesis for Russian Regions: Trends and Interpretations," Economy of region, Centre for Economic Security, Institute of Economics of Ural Branch of Russian Academy of Sciences, vol. 1(2), pages 560-568.
    2. J. N. Lye and J. G. Hirschberg, 2012. "Inverse Test Confidence Intervals for Turning points: A," Department of Economics - Working Papers Series 1160, The University of Melbourne.

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