Income distribution, Pareto laws and regular variation

Income distribution, Pareto laws and regular variation

Various properties of the tail behaviour of the income distribution have been formulated. It is shown that the best-known of these, the Weak Pareto Laws, are all equivalent to a property known as regular variation, and that the relations between the various Weak Pareto Laws (Mandelbrot, Kakwani and...

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Veröffentlicht in:Economics letters 1993, Vol.43 (2), p.177-182
Hauptverfasser: Merkies, Arnold H.Q.M., Steyn, Ivo J.
Format: Artikel
Sprache:eng
Schlagworte:
Income distribution
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Zusammenfassung:Various properties of the tail behaviour of the income distribution have been formulated. It is shown that the best-known of these, the Weak Pareto Laws, are all equivalent to a property known as regular variation, and that the relations between the various Weak Pareto Laws (Mandelbrot, Kakwani and Esteban versions) are not as stated in the literature.
ISSN:0165-1765
1873-7374
DOI:10.1016/0165-1765(93)90033-9