Re: Help with a Minimum Wage Model

From: Anders Sandberg (asa@nada.kth.se)
Date: Thu Apr 10 2003 - 02:44:31 MDT

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    > > On Wed, Apr 09, 2003 at 02:56:04AM -0700, Lee Corbin wrote:
    > >
    > > Define "internally worse". That rapid growth of GDP seems correlated with
    > > increasing inequality seems well-accepted

    I plotted the Gini coefficients vs. GDP growth rate over the last
    years (from http://www.bartleby.com/151/a63.html). The result can
    be seen at http://www.nada.kth.se/~asa/bilder/ginigrow.png

    The overall trend seems to be that high inequality is a little bad
    for growth, but there is much noise and the trend is very weak.
    The notable outliers are Zimbabwe with -6.5% GDP and a whopping
    0.568 coefficient, and Kazakhstan growing with 12.2% with 0.327 (I
    wouldn't trust that growth figure much, sounds very like official
    statistics). The US is at 2.4% and 0.312. I don't think this kind
    of inequality has any real bearing on growth, other than possibly a
    negative influence. I recall that I did a similar plot a while ago
    (it is likely in the archives) of GDP per capita and the
    coefficient, and it also did not show much. Of course, it is quite
    possible that the coefficient per se is a hopeless measure.

    -- 
    -----------------------------------------------------------------------
    Anders Sandberg                                      Towards Ascension!
    asa@nada.kth.se                            http://www.nada.kth.se/~asa/
    GCS/M/S/O d++ -p+ c++++ !l u+ e++ m++ s+/+ n--- h+/* f+ g+ w++ t+ r+ !y
    


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