Modelling the age-dependent personal income distribution in the USA
AbstractNumerical modelling of the age-dependent personal income distribution (PID) in the USA is fulfilled based on a micro- and macroeconomic model and results of the overall PID modelling. As expected from the age-dependent accuracy of the Current Population Surveys, the model has demonstrated an excellent prediction power in almost all income bins except the lowermost ones. Here we address the problem of the fine age structure of the PIDs. The age-dependent PIDs are modelled by using the same defining parameters as the overall PIDs. The predicted PIDs accurately describe the observed ones reproducing such complex features as the exponential PID decay in the youngest and oldest age groups. The evolution of the age-dependent PIDs in time is also accurately predicted. The difference in the PID levels in the youngest age group is explained by some shortcomings in the design of the enumeration procedure. Corresponding recommendations are given in order to improve the PID estimates.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by ECINEQ, Society for the Study of Economic Inequality in its series Working Papers with number 17.
Length: 29 pages
Date of creation: 2006
Date of revision:
This paper has been announced in the following NEP Reports:
- NEP-ALL-2006-01-24 (All new papers)
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Ivan O. Kitov, 2008.
"Modeling the evolution of age-dependent Gini coefficient for personal incomes in the U.S. between 1967 and 2005,"
95, ECINEQ, Society for the Study of Economic Inequality.
- Kitov, Ivan, 2008. "Modeling the evolution of age-dependent Gini coefficient for personal incomes in the U.S. between 1967 and 2005," MPRA Paper 10107, University Library of Munich, Germany.
- 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.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Maria Ana Lugo).
If references are entirely missing, you can add them using this form.