Huang, Ho-Chuan; Fang, WenShwo; Miller, Stephen M. - Department of Economics, University of Connecticut - 2012
This paper assesses the long-run effect of growth volatility on income inequality using a comprehensive panel of annual U.S. state-level data during the 1945 to 2004 period. Using the pooled mean group (PMG) estimator, we find overwhelming evidence supporting the hypothesis that larger growth...