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1.
This paper proposes a three-parameter statistical model of income distribution by exploiting recent developments on the use
of deformed exponential and logarithm functions as suggested by Kaniadakis (Phys A 296:405–425, 2001; Phys Rev E 66:056125, 2002; Phys Rev E 72:036108, 2005). Formulas for the shape, moments and standard tools for inequality measurement are given. The model is shown to fit remarkably
well the personal income data for Great Britain, Germany and the United States in different years, and its empirical performance
appears to be competitive with that of other existing distributions. 相似文献
2.
The time-varying natural rate of interest and output and the implied medium-term inflation target for the US economy are estimated
over the period 1983–2005. The estimation is conducted within the New Keynesian framework using Bayesian and Kalman-filter
estimation techniques. With the model-consistent estimate of the output gap, we get a small weight on the backward-looking
component of the New Keynesian Phillips curve—similar to what is obtained in studies which use labor share of income as a
driver for inflation (e.g., Galí, Eur Econ Rev 45(7):1237–1270, 2001; Eur Econ Rev 47(4):759–760, 2003). The turning points
of the business cycle are nevertheless broadly consistent with those of CBO/NBER. We find considerable variation in the natural
rate of interest while the inflation target has been close to 2% over the last decade. 相似文献
3.
Using a 1995–2004 panel data of Chinese urban residents, we investigate the dynamics of income distribution in cities. According
to Kernel estimates of the relative income distribution of Chinese cities, we find that: (1) the national across-city distribution
of per capita GDP exhibits an apparent unique-peak distribution in 1995 and an “emerging multiple-peak” one in 2004; (2) for
prefecture-level cities, income distribution has evolved to an “apparent multiple-peak” distribution from a unique-peak one;
(3) the income distribution of county-level cities maintains a unique-peak curve; (4) most of the income dynamics of urban
residents originates from prefecture-and-higher-level cities. We sample three representative provinces and study the urban
income dynamics respectively. The analysis suggests that within a single province, urban income distribution evolves from
unique-peak to twin-peak curve; while among provinces, income convergence is evident for urban residents. In addition, we
measure the incidence of poverty in cities based on our income dynamics analysis, and find that the ratios of people living
below absolute poverty line have been decreasing at cities of all levels. 相似文献
4.
Thomas Gall 《Economic Theory》2008,34(2):359-382
This paper analyzes a simple extension to the work of Galor and Zeira (Rev Econ Stud 60:35–52, 1993). Allowing for endowment
lotteries alters the dynamics of the model fundamentally: the poverty trap found in the original work vanishes for a wide
class of parameters. Moreover, it turns out that in the presence of lotteries the relationship between the severity of credit
market imperfections and long run aggregate income may be non-monotonic. We identify cases such that reducing the scope for
moral hazard on the capital market decreases aggregate utility and may create a poverty trap and persistent income inequality
in the economy.
I am grateful for many helpful comments to Hans-Peter Grüner and an anonymous referee and for valuable discussion to Stefan
Behringer and Petr Zemčík, and to seminar participants at Mannheim University and ENTER Jamboree 2003, Tilburg. Financial support from DFG is gratefully
acknowledged. 相似文献
5.
The goal of this paper is to introduce a partially adaptive estimator for the grouped-data regression model based on an error
structure described by a mixture of two normal distributions. The model we introduce is easily estimated by maximum likelihood
using the EM algorithm adapted from the work of Bartolucci and Scaccia (Comput Stat Data Anal 48:821–834, 2005). The partially
adaptive estimator is applied to data used by Long and Caudill (Rev Econ Stat 73:525–531, 1991) to examine the impact of intercollegiate
athletics on income. We estimate a variation of the original regression model and find that there is a considerable financial
advantage for those male athletes now working in business management. This finding is consistent with the idea that athletes
acquire team-building and organizational skills that are helpful in business. 相似文献
6.
Income inequality, democracy and growth reconsidered 总被引:1,自引:0,他引:1
Erich Weede 《European Journal of Political Economy》1997,13(4):751-764
Persson and Tabellini (Persson, T., Tabellini, G., 1992a. Growth, distribution and politics. Eur. Econ. Rev. 36, 593–602; Persson, T., Tabellini, G., 1992b. Growth, distribution and politics. In: Cukierman, A., Hercowitz, Z., Leiderman, L. (Eds.), Political Economy, Growth, and Business Cycles. MIT Press, Cambridge, MA, pp. 3–22; Persson, T., Tabellini, G., 1994. Is inequality harmful for growth? Am. Econ. Rev. 84, 600–621) as well as Alesina and Rodrik (Alesina, A., Rodrik, D., 1992. Distribution, political conflict, and economic growth. In: Cukierman, A., Hercowitz, Z., Leiderman, L. (Eds.), Political Economy, Growth, and Business Cycles. MIT Press, Cambridge, MA, pp. 23–50; Alesina, A., Rodrik, D., 1994. Distributive politics and economic growth, Q. J. Econ. 109, 465–490) have argued that income inequality reduces economic growth rates among democracies because it promotes distributional struggles. In this paper I question the supportive evidence for a number of reasons. Measures of income distribution and democracy are unreliable and permit only very tentative conclusions. Changes in data sources or recoding of some influential cases affect results. It is questionable whether equality effects on growth apply only within democracies, as a median voter interpretation of this relationship should make one expect. The general idea that distributional struggle hurts the growth prospects of nations, however, receives some empirical support. 相似文献
7.
We consider the standard Hotelling price-and-location game with two firms, and show how equilibrium is affected by the shape
of the consumers’ density. By describing the latter in terms of elasticity (Esteban in Int Econ Rev 27:439–444, 1986), we
develop a framework which enables us to prove a sufficient condition for the existence of multiple asymmetric equilibria when
the density is symmetric, in terms of a lower bound on the Gini coefficient of the distribution of preferences.
相似文献
8.
Mandelbrot (Int Econ Rev 1:79–106, 1960) proposed using the so-called Pareto–Lévy class of distributions as a framework for representing income distributions. We argue in this article that the Pareto–Lévy distribution is an interesting candidate for representing income distributions because its parameters are easy to interpret and it satisfies a specific invariance-under-aggregation property. We also demonstrate that the Gini coefficient can be expressed as a simple formula of the parameters of the Pareto–Lévy distribution. We subsequently use income data for Norway and seven other OECD countries to fit the Pareto–Lévy distribution as well as the Generalized Beta type II (GB2) distribution. The results show that the Pareto–Lévy distribution fits the data better than the GB2 distribution for most countries, despite the fact that GB2 distribution has four parameters whereas the Pareto–Lévy distribution has only three. 相似文献
9.
This paper examines Bayesian methods of examining posterior distributions of inequality, concentration, tax progressivity
and social welfare measures. Use is made of an explicit income distribution assumption and two alternative assumptions regarding
the distribution of pre-tax mean incomes within each income group. The methods are applied to a simulated distribution of
individual incomes and tax payments. It is possible to identify a minimum acceptable number of income classes to be used.
The results suggest support for the use of group means in practical applications, particularly where large sample sizes are
available.
First version received: August 2000/Final version received: July 2001
RID="*"
ID="*" This research was supported by a Melbourne University Faculty of Economics and Commerce Research Grant. We should
like to thank Bill Griffiths and two referees for comments on an earlier draft. 相似文献
10.
International student migration to Germany 总被引:1,自引:1,他引:0
Donata Bessey 《Empirical Economics》2012,42(1):345-361
The past decades have witnessed an impressive growth of international student mobility. This article presents first empirical
evidence on international student migration to Germany, one of the most important destination countries for international
students worldwide. While previous research in the field has mainly used data on international trade in educational services,
I use a novel approach that analyzes student mobility as a form of migration, using data on international student migrants.
An augmented gravity equation is the basis for the theoretical and empirical framework. I also provide extensive sensitivity
checks of the empirical results and estimates using both the usual log-linearized and a multiplicative specification of the
gravity equation, following recent work by Santos Silva and Tenreyro (Rev Econ Stat 88(4): 641–658, 2006). The results provide evidence for the importance of distance—a familiar result from the empirical migration literature.
Unlike for international migration on the whole, the importance of disposable income in the home country does not seem to
be too big for students, and student migrant flows from politically unfree countries are significantly lower. 相似文献
11.
Income Inequality in OECD Countries: Data and Explanations 总被引:1,自引:0,他引:1
There is much disagreement about both the facts and the explanationsof income inequality. Even if we confine attention to OECD countries,we find people arguing that there has been a great U-turn, withinequality rising sharply after its post war fall, and otherswho believe that the speed of change is glacial. In order toevaluate the historical record, we need data for a long runof years. The present paper reviews evidence about coveringthe period 19452001 for nine OECD countries. It is widelybelieved that rising inequality is attributable to technologicalchange and to globalisation. The second part of the paper arguesthat these are only part of a complex story. Household incomesdepend on public policy and on sources of income apart fromwork. What is happening at the top of the distribution may needto be explained quite differently. (JEL H0, E6) 相似文献
12.
Edward E. Schlee 《Economic Theory》2008,34(1):127-155
Except for a knife-edge case of preferences, the percentage error from using the change in expected consumer’s surplus (ECS) to approximate the willingness to pay for a change in the distribution of a random price is unbounded, in contrast
to Willig’s (Am Econ Rev 66:589–597; 1976) famous approximation result for nonrandom prices. If the change is smooth on the
space of random variables, and either the initial price is nonrandom or state-contingent payments are possible, then the change
in ECS locally approximates the willingness to pay well. Unfortunately, this smoothness fails in some important applications.
I thank Hector Chade, Glenn Ellison, Peter Hammond, Manuel Santos, seminar participants at Arizona State, Stanford and Yale
and participants of the Midwest Economic Theory meetings at Indiana University and the 2004 Summer Econometric Meetings for
comments. 相似文献
13.
In his 1960 book, Sraffa suggested using a composite commodity,which he called the Standard commodity, to solveRicardo's search for an invariable measure of value, i.e., astandard capable of isolating the price movements of any othercommodity induced by changes in income distribution. The absencein Sraffa's book of an explicit proof of the invariance propertyof this standard gave rise to many misunderstandings about itsmeaning and its role as an invariable measure of value. In orderto clear up these questions, Bellino (On Sraffa's Standard commodity,Cambridge Journal of Economics, vol. 28, 12132, 2004)has proposed a proper definition of an invariablemeasure of value, showing that Sraffa's Standard commoditydoes fulfil the requirements of this definition. He claims thatthe fulfilment of this property (but not the constancy of itsnominal price) qualifies the Standard commodityas an invariable measure of value. In this paper, a proof ofthe invariance of the price of the Standard commodity with respectto changes in income distribution is given, and the equivalenceof this property with Bellino's definition of invariance isshown. 相似文献
14.
Based on an analysis of some theories, this paper studies the relationships among rural household investments and their interaction
with farmer income increase empirically by the data of 1983–2005. The findings are: (1) Health investment makes against the
growth of farmer, human capital investments for other types, besides, it can not satisfy the needs of farmer. (2) Although
migration investment is useful to the growth of farmer income, education and health investment, its effects is time lagged.
(3) Education investment has the biggest effects on the growth of farmer income; besides, it also reduces the cost of migration.
However, this reduction is a bit small. Finally, some brief suggestions are put forward based on the analysis.
__________
Translated from Jingji kexue 经济科学 (Economic Science), 2007, (3): 26–35 相似文献
15.
Adriaan Kalwij 《European Economic Review》2007,51(4):805-829
This study examines the role of the distribution of income in determining the responsiveness of poverty to income growth and changes in income inequality using panel data of 58 developing countries for the period 1980-1998. We show that the large cross-regional variation in the capacity of income growth to reduce poverty, i.e. the income elasticity, is largely explained by differences in the initial distribution of income and present region and time specific estimates of the income and Gini elasticities of poverty. We find that the income elasticity of poverty in the mid-1990s equals −1.31 on average and ranges from −0.71 for Sub-Saharan Africa to −2.27 for the Middle East and North Africa, and that the Gini elasticity of poverty equals 0.80 on average and ranges from 0.01 in South Asia to 1.73 in Latin America. Furthermore we show that while differing income growth rates account for most of the regional diversity in poverty trends, the additional impact of differences across regions in rates of inequality change and income and inequality elasticities of poverty is almost always significant and far too large to be ignored, most notably so in Eastern Europe and Central Asia. 相似文献
16.
We study the prediction of the theory in Rossi-Hansberg [Rossi-Hansberg E (2005) Am Econ Rev 95(5):1464–1491] that, under quite general circumstances, lower transport costs increase specialization of regions or countries and decrease (regional) concentration of industries. This prediction contradicts the contention of other models and many empirical papers that specialization and concentration should move in parallel. We use two data sets on manufacturing industries across US States and EU member countries to show specialization and concentration do not develop in parallel. The empirical data replicates some of the features of the divergence predicted in the model. 相似文献
17.
This paper examines the dynamics of income distribution and convergence in Latin America during the period 1960 to 2000. Our
results, based on the intradistribution dynamics approach, reveal a “twin peaks” dynamics, which echoes findings reported
for the OECD, the Asia Pacific Basin and worldwide. Notable differences, however, are found between the income dynamics in
Latin America and in these other regions. Further, our findings indicate that physical capital investment and health capital
serve to explain Latin America’s “twin peaks” polarization. Other factors, such as geographical proximity, trade openness
and human capital, are also found to help explaining it to some extent.
We gratefully acknowledge the helpful comments and suggestions of the referee. 相似文献
18.
Does the within-household distribution of income influence householdconsumption patterns? In one attempt to answer this question,Lundberg, Pollak and Wales (1997) exploited the naturalexperiment of a change in family benefits in the UK.They found that the within-household income distribution didhave a significant impact on expenditure. This paper exploitsa similar natural experiment in Australia. During the 1990s,unemployment benefits for unemployed married couples changedfrom being paid almost entirely to husbands, to being paid primarilyto wives. Using household expenditure data it is found that,although the changes in the within-household income distributionwere large, the changes in expenditure patterns were small andnot in the expected direction. The data do not, therefore, providesupport for the hypothesis that women's control over householdexpenditure was increased. The paper concludes with a discussionof the possible reasons for this. (JEL J10, J12, I38) 相似文献
19.
中国城镇养老保险制度改革的收入分配效应——基于2002年城镇住户调查数据的定量分析 总被引:1,自引:0,他引:1
何立新 《Frontiers of Economics in China》2008,3(2):255-276
Using the micro data of Urban Household Survey made by the National Bureau of Statistics of China(NBS) in 2002, this paper
studies quantitatively the distributional effects of Public Pension Reform in urban China, from intragenerational and intergenerational
perspectives, by measuring lifetime net benefits that urban employees obtain under the public pension system in 1997 and the
newest one announced in December 2005, respectively. The results indicate that the regressive income transfer existing before
implementation of the reform is improved as a consequence of the 1997 reform. However, the Act of 2005 Reform generates the
obvious inclination of the regressive income transfer among people who exceed 40 years old in 2002. On the other hand, from
the viewpoint of intergenerational distribution, the intergenerational inequality resulted from 1997 reform is greater than
that from 2005 reform. Moreover, all generations would receive higher lifetime net benefits under the Act of 2005 Reform,
but it must be based on sustainable pension system and participants’ full pension contribution during their duration of employment.
__________
Translated from Jingji yanjiu 经济研究(Economic Research Journal), 2007, (3): 70–80, 91 相似文献
20.
Adriaan Kalwij 《Empirical Economics》2010,38(2):429-456
This paper examines the relationship between the business cycle and individuals’ duration in unemployment. I use multi-spell
unemployment duration data of British males and monthly series of regional vacancies over unemployment, referred to as labour
market tightness, to control for the business cycle. In line with most previous studies I find that the observed negative
duration dependence on an aggregate level is explained by both sorting and strong negative individual duration dependence,
and that the individual hazard of leaving unemployment increases with labour market tightness. The new empirical findings
emerge from the interactions between individual duration dependence and the business cycle. Individual heterogeneity, and
in particular the variation over the business cycle in the composition of the newly unemployed, explains most of the systematic
variation over the business cycle in duration dependence on an aggregate level. Individual duration dependence does not vary
over the business cycle in a way that would lend support to the predictions concerning this of the matching model of Lockwood
(Rev Econ Stud 58:733–753, 1991) or the ranking model of Blanchard and Diamond (Rev Econ Stud 61:417–434, 1994). 相似文献