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Income inequality and the business cycle: A threshold cointegration approach |
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| Authors: | Gary A. Hoover Daniel C. Giedeman Sel Dibooglu |
| Affiliation: | aDepartment of Economics Finance and Legal Studies, University of Alabama, Box 870224, Tuscaloosa, AL 35487, United States;bDepartment of Economics, Grand Valley State University, 401 W. Fulton St. Grand Rapids, MI 49504, United States;cDepartment of Economics, University of Missouri - St. Louis, One University Boulevard, St. Louis, MO 63121, United States |
| Abstract: | This paper investigates the impact of various socio-economic variables on various cohorts of the income distribution. We use asymmetric cointegration tests to show that unemployment and immigration shocks have real impacts on income inequality. In addition, using threshold test results we are able to show that positive and negative shocks to the economy do not have symmetric effects nor do the impacts of these shocks impact income quintiles uniformly. |
| Keywords: | Income inequality Granger causality Asymmetric cointegration |
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