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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: GraceZ who wrote (51737)1/27/2006 2:48:03 PM
From: anachronist  Read Replies (1) of 110194
 
what they continuously fail to point out is that people don't stay in one particular income quintile over the period of the study

You state things like this as a fact. However, there are some that dispute your assertions:

"Gottschalk (1996) finds (using a different data set) that of those individuals who were in the lowest quintile of incomes in 1974, more than two-fifths remained in this same relative position in 1991. Similarly, more than half of those who were in the top quintile in 1974 were still there in 1991. These results imply less relative income mobility than Cox and Alm claim and thus more reason to be concerned about rising inequality."

More at frbsf.org
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