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A new model of income distribution: the κ-generalized distribution

Author

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  • Fabio Clementi

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  • Mauro Gallegati
  • Giorgio Kaniadakis

Abstract

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Suggested Citation

  • Fabio Clementi & Mauro Gallegati & Giorgio Kaniadakis, 2012. "A new model of income distribution: the κ-generalized distribution," Journal of Economics, Springer, vol. 105(1), pages 63-91, January.
  • Handle: RePEc:kap:jeczfn:v:105:y:2012:i:1:p:63-91 DOI: 10.1007/s00712-011-0221-0
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    References listed on IDEAS

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    1. Cowell, Frank A. & Kuga, Kiyoshi, 1981. "Additivity and the entropy concept: An axiomatic approach to inequality measurement," Journal of Economic Theory, Elsevier, vol. 25(1), pages 131-143, August.
    2. Fabio Clementi & Mauro Gallegati & Giorgio Kaniadakis, 2010. "A model of personal income distribution with application to Italian data," Empirical Economics, Springer, pages 559-591.
    3. Frank A. Cowell, 1980. "On the Structure of Additive Inequality Measures," Review of Economic Studies, Oxford University Press, vol. 47(3), pages 521-531.
    4. Salem, A B Z & Mount, T D, 1974. "A Convenient Descriptive Model of Income Distribution: The Gamma Density," Econometrica, Econometric Society, vol. 42(6), pages 1115-1127, November.
    5. Vuong, Quang H, 1989. "Likelihood Ratio Tests for Model Selection and Non-nested Hypotheses," Econometrica, Econometric Society, vol. 57(2), pages 307-333, March.
    6. Cowell, Frank A., 1980. "Generalized entropy and the measurement of distributional change," European Economic Review, Elsevier, vol. 13(1), pages 147-159, January.
    7. Kaniadakis, G., 2001. "Non-linear kinetics underlying generalized statistics," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 296(3), pages 405-425.
    8. Kleiber, Christian, 1996. "Dagum vs. Singh-Maddala income distributions," Economics Letters, Elsevier, vol. 53(3), pages 265-268, December.
    9. McDonald, James B. & Xu, Yexiao J., 1995. "A generalization of the beta distribution with applications," Journal of Econometrics, Elsevier, vol. 69(2), pages 427-428, October.
    10. Sanghamitra Bandyopadhyay & Frank A. Cowell, 2009. "Goodness-of-Fit: An Economic Approach," Economics Series Working Papers 444, University of Oxford, Department of Economics.
    11. Singh, S K & Maddala, G S, 1976. "A Function for Size Distribution of Incomes," Econometrica, Econometric Society, vol. 44(5), pages 963-970, September.
    12. Christian Kleiber, 2007. "A Guide to the Dagum Distributions," Working papers 2007/23, Faculty of Business and Economics - University of Basel.
    13. Daniel Feenberg & Elisabeth Coutts, 1993. "An introduction to the TAXSIM model," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 12(1), pages 189-194.
    14. Stefan Bach & Giacomo Corneo & Viktor Steiner, 2009. "From Bottom To Top: The Entire Income Distribution In Germany, 1992-2003," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 55(2), pages 303-330, June.
    15. Atkinson, Anthony B., 1970. "On the measurement of inequality," Journal of Economic Theory, Elsevier, vol. 2(3), pages 244-263, September.
    16. Kleiber, Christian, 1997. "The existence of population inequality measures," Economics Letters, Elsevier, vol. 57(1), pages 39-44, November.
    17. Stephen P. Jenkins, 2009. "Distributionally-Sensitive Inequality Indices And The Gb2 Income Distribution," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 55(2), pages 392-398, June.
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    Citations

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    Cited by:

    1. F. Clementi & M. Gallegati, 2016. "New economic windows on income and wealth: The k-generalized family of distributions," Papers 1608.06076, arXiv.org.
    2. Stella, Massimo & Brede, Markus, 2014. "A κ-deformed model of growing complex networks with fitness," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 407(C), pages 360-368.
    3. Louis Chauvel, 2014. "The Intensity and Shape of Inequality: The ABG Method of Distributional Analysis," LIS Working papers 609, LIS Cross-National Data Center in Luxembourg.
    4. F. Clementi & M. Gallegati & G. Kaniadakis, 2012. "A generalized statistical model for the size distribution of wealth," Papers 1209.4787, arXiv.org, revised Dec 2012.
    5. Yong Tao, 2016. "Spontaneous economic order," Journal of Evolutionary Economics, Springer, pages 467-500.
    6. Tapiero, Oren J., 2013. "A maximum (non-extensive) entropy approach to equity options bid–ask spread," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 392(14), pages 3051-3060.

    More about this item

    Keywords

    Income distribution; Income inequality; κ-Generalized distribution; C16; D31;

    JEL classification:

    • C16 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Econometric and Statistical Methods; Specific Distributions
    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution

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