Models for Income based on Bivariate Pareto Distributions

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

Journal of Income Distribution, 2006, vol. 15, issue 3-4, 78-89

Abstract: It is shown that the total amount of income earned during a reference period can be expressed as the products of components of bivariate Pareto distributions. The exact distribution of the total amount of income P = XY and the corresponding moment properties are derived when (X, Y ) follows three of the most commonly known bivariate Pareto distributions. The expressions turn out to involve special functions.

Date: 2006
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