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Some Generalized Functions for the Size Distribution of Income

  • James B. McDonald
Part of the Economic Studies in Equality, Social Exclusion and Well-Being book series (EIAP, volume 5)

Abstract

Many distributions have been used as descriptive models for the size distribution of income. This paper considers two generalized beta distributions which include many of these models as special or limiting cases. These generalized distributions have not been used as models for the distribution of income and provide a unified method of comparing many models previously considered.

Expressions are reported which facilitate parameter estimation and the analysis of associated means, variances, and various measures of inequality.

The distributions considered are fit to US family income and their relative performance is compared.

Keywords

Income Distribution Pareto Distribution Generalize Gamma Generalize Beta Current Population Report 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer Science+Business Media, LLC 2008

Authors and Affiliations

  • James B. McDonald

There are no affiliations available

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