On the Evolution of Household Income

Gustavo De Santis () and Giambattista Salinari ()

No 488, LIS Working papers from LIS Cross-National Data Center in Luxembourg

Abstract: We present a markovian homogeneous model that mimics the evolution of household income. With three parameters only, the model generates a set of theoretical curves that closely fit actual income distributions, as observed in 19 advanced economies in the period 1967-2004. The fit is better, and theoretically more consistent, than that obtained with other models customarily used in the literature, for instance log-normal or power-law models.

Pages: 23 pages
Date: 2008-07
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:lis:liswps:488

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