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Divergence between parametric income distributions

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  • Hajargasht, Gholamreza

Abstract

Situations often arise in which we are interested in measuring divergence between distributions over time or across regions. This paper proposes an entropy measure of divergence and derives analytical expressions for several parametric distributions widely used in modelling income distributions. An empirical application using income distribution data for the US from 1970 to 2019 shows a significant divergence or shift during the 1980–2000 period but relative stability on either side of this period.

Suggested Citation

  • Hajargasht, Gholamreza, 2024. "Divergence between parametric income distributions," Economics Letters, Elsevier, vol. 235(C).
    • Handle: RePEc:eee:ecolet:v:235:y:2024:i:c:s0165176524000272
    DOI: 10.1016/j.econlet.2024.111543
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    More about this item

    Keywords

    Inequality measures; Theil index; Goodness of fit; Lorenz curve; GB2; Lognormal; Pareto;
    All these keywords.

    JEL classification:

    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • C31 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models; Quantile Regressions; Social Interaction Models

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