This study focuses on testing the relationship between income inequality and economic growth within counties in the United States, and the channels through which the effects of a relationship are observed. Based on a system of equations estimation, the empirical results confirm the hypotheses...

Most models of income dynamics are set in a discrete-time framework with an arbitrarily chosen accounting period. This article introduces a continuous-time stochastic model of income flows, without the need to define an accounting period. Our model can be estimated using unbalanced panel data...

Most models of income dynamics are set in a discrete-time framework with an arbitrarily chosen accounting period. This article introduces a continuous-time stochastic model of income flows, without the need to define an accounting period. Our model can be estimated using unbalanced panel data...