The Distribution of Personal Income: Revisited
In a recent paper, Majumder and Chakravarty (1990) propose a four-parameter model which they find provides a better fit to some income data than the lognormal, gamma, Singh-Maddala, Dagum, and generalized beta of the second kind (GB2) distributions. This note (1) demonstrates that the model proposed by Majumder and Chakravarty is a reparameterization of the GB2 and (2) reconciles the corresponding contradictory empirical findings reported by Majumder and Chakravarty. Copyright 1995 by John Wiley & Sons, Ltd.
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Volume (Year): 10 (1995)
Issue (Month): 2 (April-June)
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