Zietz, Joachim; Zhao, Xiaolin - In: The Quarterly Review of Economics and Finance 49 (2009) 1, pp. 42-53
The paper uses 1980 to 2000 Panel Study of Income Dynamics (PSID) data to study the short-run effect of a stock market appreciation on U.S. household income inequality. Fixed-effects regressions suggest that a stock market appreciation raises the incomes of stockholder households more than...