Efeito da desigualdade no crescimento econômico dos municípios brasileiros: Uma análise com base no Jackknife model averaging

Abstract

This paper investigates the relationship between economic growth and income inequality taking into account the uncertainty with respect to the econometric model specification. To avoid inappropriate specification, we use a model averaging technique proposed in Hansen and Racine (2012), that is known as Jackknife Model Averaging. This method consist of estimates all possible specifications of models with a wide range of variables and then calculate a model that is a weighted average of all other estimated. The choice of the weighting factors is based on minimizing the cross-validation criterion. Given the high computational cost, the analysis was made taking into consideration three scenarios. Despite the research effort, our results suggest that there is no evidence that income inequality exerted influence on the growth rate of the Brazilian economy in the period 2000-2009.