Huang, Ho-Chuan; Fang, WenShwo; Miller, Stephen M.; … - In: Economic Modelling 45 (2015) C, pp. 212-222
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 evidence supporting the hypothesis that larger growth volatility...