Konvolut The Personal Distribution of Income 2

Steindl, Josef

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Document type:: Works

Collection:: Josef Steindl Collection

Title:: Konvolut The Personal Distribution of Income 2

Author:: Steindl, Josef

Scope:: 51 Blätter. Konvolut aus handschriftlichen und maschinengeschriebenen Blättern

Year of publication:: 1972

Source material date:: August-September 1972

Language:: German English

Note:: Titel fingiert. Das Konvolut umfasst ein 20 seitiges Typoskript des Artikels "The Personal Distribution of Income" von August/September 1972 mit zahlreichen handschrifltichen Anmerkungen und Anstreichungen; einen Anhang mit Tabellen zur Einkommensverteilung in Schweden, sowie weitere Blätter mit handschriftlichen Texten, Formeln, Tabellen und Diagrammen.

Topic:: Stochastic processes and size distribution

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

Shelfmark:: S/M.10.1

Rights of use:: Free access In Copyright

Access:: Free access

DOI:: https://doi.org/10.48671/nls.js.AC14446046

15 The conditional distributions have all Pareto tails although the fit is bad ( only 4 values can be used ). The Pareto coefficient is between 5 and 4 in all except the last two wealth classes, where it is very low, and it is 2.68 for the whole income distribution. It appears that the income distribution as a whole is - as far as Ats tail is concerned - decisively influenced by the last two wealth classes. This is due to the fact that most of the top income receivers are in the last two wealth classes, > where the income distribution is very unequal simply owing to the wide range of wealth in these two classes, as already mentioned before. In this v[ay the peculiar result arises that the total income distribution is much more unequal than almost all the conditional income distributions. This in a way also answers the question which might well be asked; Why the pattern of income distribution could not be derived from the conditional distributions without reference to the wealth distribution. Allometric growth of income and wealth The discussion of the relations of income and wwealth will now be extended to take accounj^f influences in both directions. The starting point will be the regression of income on wealth which seems to be linear as far as the data go. This might be regarded as a case of allometry, in analogy to 1) a "law" well known to biologists : Various parts of an organism grow at different but constant rates and as a result the proportion^ of their sizes ( on log scale ) remain constant in the growing body. -1 ) Ludwig von -^ertalanffy, general System Theory. Penguin 1968 p.65. Devendra S a hal has used the allometric lav/ in combination with the progress function in order to explain the Pareto distributio n I in one dimension ); see A Formulation of the Pareto Distribution. IMM, Science ^entre, 1000 Berlin mimeo ). Although the use I am trying to make of the Ikw is different, I owe x to L t Devendra Sahal to have my attention drawn to it. *

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