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Equilibrium Mobility

Author

Listed:
  • Robert Aebi
  • Klaus Neusser
  • Peter Steiner

Abstract

This paper proposes to measure the mobility of a stochastic process as the expected value of a "mobility functional" with respect to its stationary distribution. The mobility functional thereby measures the valuation of movements between states. We not only highlight the conceptual advantages of our approach, but also show how this so-called "equilibrium mobility index" relates to the axiomatic approach by Fields and Ok (7) and the approach based on monotone transition matrices by Conlisk (4) and Dardanoni (5))

Suggested Citation

  • Robert Aebi & Klaus Neusser & Peter Steiner, 2004. "Equilibrium Mobility," Diskussionsschriften dp0408, Universitaet Bern, Departement Volkswirtschaft.
    • Handle: RePEc:ube:dpvwib:dp0408
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    File URL: https://repec.vwiit.ch/dp/dp0408.pdf
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    References listed on IDEAS

    as
    1. Robert Aebi & Klaus Neusser & Peter Steiner, 2006. "A Large Deviation Approach to the Measurement of Mobility," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 142(II), pages 195-222, June.
    2. Tapan Mitra & Efe A. Ok, 1998. "The measurement of income mobility: A partial ordering approach," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 12(1), pages 77-102.
    3. Shorrocks, A F, 1978. "The Measurement of Mobility," Econometrica, Econometric Society, vol. 46(5), pages 1013-1024, September.
    4. Dardanoni Valentino, 1993. "Measuring Social Mobility," Journal of Economic Theory, Elsevier, vol. 61(2), pages 372-394, December.
    5. Fields, Gary S. & Ok, Efe A., 1996. "The Meaning and Measurement of Income Mobility," Journal of Economic Theory, Elsevier, vol. 71(2), pages 349-377, November.
    6. Geweke, John & Marshall, Robert C & Zarkin, Gary A, 1986. "Mobility Indices in Continuous Time Markov Chains," Econometrica, Econometric Society, vol. 54(6), pages 1407-1423, November.
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    Cited by:

    1. Kai-yuen Tsui, 2009. "Measurement of income mobility: a re-examination," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 33(4), pages 629-645, November.

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    More about this item

    Keywords

    Mobility indices; mobility functional; equilibrium mobility;
    All these keywords.

    JEL classification:

    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • J62 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Job, Occupational and Intergenerational Mobility; Promotion

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