Macroeconomic variables and income distribution: Conditional modelling with the generalised exponential |
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| Institution: | 1. Center for Climate Change Research, Indian Institute of Tropical Meteorology, Pune 411008, India;2. Department of Geology, Central University of Karnataka, Kalaburgi, India;3. Department of Applied Geology, Kuvempu University, Shankaraghatta 577451, India;1. School of Economics, Qingdao University, Qingdao, 266061, China;2. College of Management and Economics, Tianjin University, Tianjin, 300072, China;3. China Center for Social Computing and Analytics, Tianjin, 300072, China;4. School of Business Administration, Northeastern University, Shenyang, 110169, China |
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| Abstract: | This paper presents a method of examining the effects of macroeconomic variables on the personal distribution of income over time. The approach involves modelling the complete distribution of income in each year using a flexible functional form from the generalised exponential family of distributions. The parameters of the distribution are specified as functions of the macroeconomic variables. It is shown how comparative static analyses, involving the modes and Atkinson inequality measures, can be performed. The method is applied to male New Zealand income distribution data for the period 1985–1994. The rate of unemployment is found to be the primary influence on the form of the distribution. Higher unemployment is found to decrease the modal income and increase the Atkinson inequality measure. |
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