Macroeconomy and the well-being of low income African American families

Research output: Contribution to journalArticle

1 Citation (Scopus)

Abstract

By employing unit root testing and cointegration procedures, this paper is the first study of its kind to present empirical evidence showing higher inflation rate, lower unemployment, and increased real per capita gross domestic product decreased the poverty rate among African American families during the 1966-99 period. The findings, estimated using the Phillips-Hansen fully modified OLS estimator, are also consistent with results obtained using Johansen's maximum likelihood cointegration procedure. Long-run Granger causality, inferred by the estimated error-correction model, suggests that the African American poverty rate is not weakly exogenous and will respond to policy intervention.

Original languageEnglish
Pages (from-to)327-333
Number of pages7
JournalJournal of Economics and Finance
Volume26
Issue number3
StatePublished - Sep 2002

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Low income
Macroeconomy
Poverty
Cointegration
Well-being
African Americans
High inflation
Empirical evidence
Unemployment
Maximum likelihood
Gross domestic product
Policy intervention
Error correction model
Inflation rate
Unit root testing
Estimator
Granger causality

All Science Journal Classification (ASJC) codes

  • Economics and Econometrics
  • Finance

Cite this

Macroeconomy and the well-being of low income African American families. / Murthy, Vasudeva N. R.

In: Journal of Economics and Finance, Vol. 26, No. 3, 09.2002, p. 327-333.

Research output: Contribution to journalArticle

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