The Personal Distribution of Income

Steindl, Josef

Bibliographic data

Works

Document type:: Works

Collection:: Josef Steindl Collection

Title:: The Personal Distribution of Income

Author:: Steindl, Josef

Scope:: Typoskript, 28 Seiten

Year of publication:: 1972

Source material date:: August-September 1972

Language:: English

Note:: Mit handschriftlichen Anmerkungen.

Related work:: Steindl, Josef: The Personal Distribution of Income. In: Steindl, Josef: Economic Papers 1941-88. London: Macmillan, 1990, S. 356-371

Topic:: Stochastic processes and size distribution

JEL Classification:: D31 [Personal Income, Wealth, and Their Distributions]

Shelfmark:: S/M.2.1

Access:: Free access

coefficient (since k <0 ) • This is exactly what had to be explained (the income distributions are "more equal" than the wealth distribu tions, empirically). The particular shape of the rate of return distrl bution has no influence on the result, as long as it fulfills the independence conditions mentioned. Unfortunately, as we shall see, this is not always the case. The income of property owners Some empirical data will illustrate the above theory. While this theory deals with property income, the data below rather refer to income of property owners, which in part is earned income. It is not easy to separate the earned and unearned income!). Nor are the two parts independent, so that a convolution of two separately derived distributions would not be appropriate. In the following, incomes of property owners will be treated as a whole. The distribution of the rate of return or conditional distribution of income therefore includes earned income here. The regression of property owners' total income on their wealth can be studied on the basis of Dutch data,^ (fig.3). The regression is linear and the variance of income is not much different in different wealth classes; the correlation coefficient is 0,5, the regression coefficient 1) Attempts to separate them such as in /5/ are unconvincing. In this study, compensation for risk is included in earned income, but by its nature it is obviously related to capital.

Works

Cite and reuse

Works

Image

Image fragment

Citation links

Citation recommendation