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Scaling in Income Inequalities and its Dynamical Origin

Zoltan Neda, Istvan Gere, Tamas S. Biro, Geza Toth and Noemi Derzsy

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Abstract: Individual level and exhaustive income data for Romania (Cluj county) is analysed for several consecutive years. The income distributions collapse on a master-curve when a properly normalised income is considered. The Beta Prime distribution is appropriate to fit the collapsed data. A dynamical model based on a master equation with growth and reset terms is successful in explaining the observed distribution in a self-consistent manner, i.e. the growth and reset rates are evaluated from the same individual level data. Income distribution derived for other countries are following similar trends. The collapse on the master-curve is not perfect however, suggesting that for a more realistic modelling specific socio-economic characteristics have to be taken also into account.

Date: 2019-11
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