Interdistributional Income Inequality |
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| Authors: | Richard J. Butler James B. McDonald |
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| Affiliation: | Department of Economics , Brigham Young University , Provo , UT , 84602 |
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| Abstract: | Incomplete moments are used to characterize income inequality and provide the basis for interdistributional Lorenz curves. Four measures of interdistributional inequality are considered and seen to be related to an interdistributional welfare interpretation. Based upon these measures, there has been a significant secular decline in interdistributional inequality between blacks and whites over the past 30 years. |
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| Keywords: | Fixed-income derivatives Options Pricing kernel State-contingent claims |
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