IDEAS home Printed from https://ideas.repec.org/p/inq/inqwps/ecineq2005-07.html
   My bibliography  Save this paper

Modelling the overall personal income distribution in the USA from 1994 to 2002

Author

Listed:
  • Ivan O. Kitov

    (Russian Academy of Sciences)

Abstract

Numerical modelling of the personal income distribution (PID) in the USA from 1950 to 2003 is accomplished based on a microeconomic model for the personal income evolution. It is shown that the overall PID demonstrates the existence of some fixed hierarchical income distribution structure in the USA. The PIDs normalized to the total population and corrected for the per capita nominal GDP growth coincide for years from 1994 to 2002. The observed inflation plays a role of some specific mechanism returning the PIDs to the initial shape. The structure of the PID is accurately simulated by using a microeconomic model with some simple assumptions related to the distribution of capabilities to earn money and sizes of earning means – two measurable parameters introduced in the model. The evolution of the overall PID is also well predicted depending on nominal GDP growth from 1994 to 2002.

Suggested Citation

  • Ivan O. Kitov, 2005. "Modelling the overall personal income distribution in the USA from 1994 to 2002," Working Papers 07, ECINEQ, Society for the Study of Economic Inequality.
    • Handle: RePEc:inq:inqwps:ecineq2005-07
    as

    Download full text from publisher

    File URL: http://www.ecineq.org/milano/WP/ECINEQ2005-07.pdf
    File Function: First version, 2005
    Download Restriction: no
    ---><---

    Citations

    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. Personal income growth - actually heating of a spherical body in a vacuum
      by Ivan Kitov in Economics as Classical Mechanics on 2021-05-01 07:26:00

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Ivan O. KITOV & Oleg I. KITOV & Svetlana A. DOLINSKAYA, 2009. "Modelling Real Gdp Per Capita In The Usa:Cointegration Tests," Journal of Applied Economic Sciences, Spiru Haret University, Faculty of Financial Management and Accounting Craiova, vol. 4(1(7)_ Spr).
    2. Kitov, Ivan & Kitov, Oleg, 2013. "The dynamics of personal income distribution and inequality in the United States," MPRA Paper 48649, University Library of Munich, Germany.
    3. Ivan O. Kitov, 2008. "Modelling the average income dependence on work experience," Papers 0811.0489, arXiv.org.
    4. Kitov, Ivan & Kitov, Oleg & Dolinskaya, Svetlana, 2007. "Relationship between inflation, unemployment and labor force change rate in France: cointegration test," MPRA Paper 2736, University Library of Munich, Germany.
    5. Ivan Kitov & Oleg Kitov & Svetlana Dolinskaya, 2007. "Linear Lagged Relationship Between Inflation, Unemployment and Labor Force Change Rate in France: Cointegration Test," Mechonomics mechonomics2, Socionet.

    More about this item

    Keywords

    personal income distribution; mean income; microeconomic modeling; USA; real GDP; macroeconomics;
    All these keywords.

    JEL classification:

    • D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • E17 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Forecasting and Simulation: Models and Applications
    • J1 - Labor and Demographic Economics - - Demographic Economics
    • O12 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Microeconomic Analyses of Economic Development

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:inq:inqwps:ecineq2005-07. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Maria Ana Lugo (email available below). General contact details of provider: https://edirc.repec.org/data/ecineea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.