Long-run inequality persistence in the U.S., 1870–2019

Gayán-Navarro, Carlos (Universidad de Zaragoza) ; Sanso-Navarro, Marcos (Universidad de Zaragoza)

Resumen: This paper studies the long-run persistence of inequality in the U.S. With this aim, both income and wealth inequality measures covering the period from 1870 to 2019 have been analyzed. The persistent character of inequality has been assessed using unit root and structural break test statistics for time series. Furthermore, the determinants of inequality persistence have been explored by implementing Bayesian model averaging techniques in a generalized linear model framework. Our results suggest that the wealth-to-income ratio displays a non-stationary behavior throughout the whole sample period. On the contrary, the Gini index of disposable income and the top 10% income share alternate between I(0) and I(1) regimes. We also find that, while a higher level of globalization increases the persistence of income inequality, it is inversely related to the levels of educational attainment and trade union membership.

Idioma: Inglés

DOI: 10.1007/s11205-024-03309-8

Año: 2024

Publicado en: Social Indicators Research 172 (2024), 261–281
ISSN: 0303-8300

Tipo y forma: Article (PostPrint)

Área (Departamento): Área Métodos Cuant.Econ.Empres (Dpto. Economía Aplicada)
Área (Departamento): Área Fund. Análisis Económico (Dpto. Análisis Económico)