Models for Measured Income

Saralees Nadarajah () and Samuel Kotz
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Saralees Nadarajah: University of Manchester
Samuel Kotz: George Washington University

Journal of Income Distribution, 2008, vol. 17, issue 2, 95-108

Abstract: Measurement error can impact estimator precision, obscure estimated relationships between variables, and distort the estimated intertemporal behavior of important economic characteristics. A commonly known model for measurement error assumes that measured income is the product of true income and a multiplicative measurement error, which is distributed independently of the level of true income. Based on this model, we derive a collection of flexible parametric forms for the distribution of measured income. We feel that this work could serve as an important reference for measurement error modeling.

Keywords: income distribution; income measurement; measurement error (search for similar items in EconPapers)
JEL-codes: D31 D63 (search for similar items in EconPapers)
Date: 2008
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