Please use this identifier to cite or link to this item: https://hdl.handle.net/20.500.11851/1105
Title: Lower volatility, higher inequality: are they related?
Authors: Ekşi, Ozan
Keywords: trend
earnings
dynamics
choice
consumption
Issue Date: Oct-2017
Publisher: Oxford Univ Press
Source: Eksi, O. (2017). Lower volatility, higher inequality: are they related?. Oxford Economic Papers, 69(4), 847-869.
Abstract: We investigate the relationship between GDP volatility and income inequality to explain the changes in both variables in the last decades of 20(th) century. The theoretical results show that these variables are related to the same parameters of the underlying income microdata. These results are supported by two empirical findings: (i) the simultaneity of the structural breaks in the GDP volatility and income inequality series across five industrialized countries; and (ii) the consistency of the results obtained from decomposing the US GDP volatility and income inequality data with those obtained from the US income microdata. The latter finding explains the diverging trends of the variables during the Great Moderation era. It also finds support for the argument that income inequality gives long-lasting responses to structural economic changes.
URI: https://doi.org/10.1093/oep/gpx014
https://hdl.handle.net/20.500.11851/1105
ISSN: 0030-7653
Appears in Collections:İktisat Bölümü / Department of Economics
Scopus İndeksli Yayınlar Koleksiyonu / Scopus Indexed Publications Collection
WoS İndeksli Yayınlar Koleksiyonu / WoS Indexed Publications Collection

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