Is the Distribution of Income Compatible with a Stable Distribution?

Arbeitspapier

Mandelbrot (1961) proposed to apply the class of Pareto-Levy distributions - which belong to the Stable distributions - as a framework for modelling income distributions. He also presented theoretic arguments in favor of the Pareto-Levy distributions. In this paper we provide additional theoretical justification for this class of distributions. We also use micro data on individual market income to estimate the parameters of a Pareto-Levy distribution. Several estimation methods have been applied. The estimated Pareto-Levy distribution appears to fit the data well.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: Discussion Papers ; No. 246

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Estimation: General ; Personal Income, Wealth, and Their Distributions
• Thema: Stable distributions ; Pareto-Levy distributions ; Income distributions

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Dagsvik, John K. ; Vatne, Bjørn H.
• Ereignis: Veröffentlichung
• (wer): Statistics Norway, Research Department
• (wo): Oslo
• (wann): 1999

Weitere Informationen

• Handle: http://hdl.handle.net/10419/192229
• Letzte Aktualisierung: 10.03.2025, 11:44 MEZ