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Statistical theories of income and wealth distribution

Author

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  • Chakrabarti, Anindya S.
  • Chakrabarti, Bikas K.

Abstract

The distributions of income and wealth in countries across the world are found to possess some robust and stable features independent of the specific economic, social and political conditions of the countries. We discuss a few physics-inspired multi-agent dynamic models along with their microeconomic counterparts, that can produce the statistical features of the distributions observed in reality. A number of exact analytical methods and solutions are also provided.

Suggested Citation

  • Chakrabarti, Anindya S. & Chakrabarti, Bikas K., 2009. "Statistical theories of income and wealth distribution," Economics Discussion Papers 2009-45, Kiel Institute for the World Economy (IfW).
  • Handle: RePEc:zbw:ifwedp:200945
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    References listed on IDEAS

    as
    1. Cecilia Garcia-Penalosa & Eve Caroli & Philippe Aghion, 1999. "Inequality and Economic Growth: The Perspective of the New Growth Theories," Journal of Economic Literature, American Economic Association, vol. 37(4), pages 1615-1660, December.
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    More about this item

    Keywords

    Income distribution; wealth distribution; inequality; exchange economies; money;

    JEL classification:

    • C00 - Mathematical and Quantitative Methods - - General - - - General
    • 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
    • D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies

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