The Personal Distribution of Income

Steindl, Josef

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Document type:: Works

Collection:: Josef Steindl Collection

Title:: The Personal Distribution of Income

Author:: Steindl, Josef

Scope:: Typoskript, 24 Seiten (23 Seiten auf Durchschlagpapier), mit zahlreichen handschriftlichen Anmerkungen und Anstreichungen

Year of publication:: 1972

Source material date:: August-September 1972

Language:: English

Note:: Unveröffentlichtes Typoskript.

Topic:: Stochastic processes and size distribution

Shelfmark:: S/M.52.8

DOI:: https://doi.org/10.48671/nls.js.AC14446372

20 (11) q»‘*(y) - q*»(w) * f (K w - y ) Row can this series of transf rmati ms square an as to produce a steady state of the joint distribution? 2 0 explain this we have t separate income at least theoretically into earned and unearned income, ^he distribution of earned inc me has to be regarded as given from outside; its explanation has to be sught separately; empirically at any rate it s a Pareto distribution. It may be regarded as constant in the simplest case. Prom it flows the continuing primary a -cumulation which contributes to the accumulation of existing wealth holders and also creates new wealth holders ( a kind of social mobility ). This wealth then creates property income and secundary accumulation. The process leads from a relatively moderate inquall ty of earned income to more unequal primary wealth, and even more unequal secundary wealth. *n this way wa can imagine that total income and total vzealth will grow at constant rates. The corresponding alloiuetric proportion does not appear directly in the cross-section where instead appear the two regression lines which are neither of them a reliable estimate of the ratio of the two Fardto coefficients. Can this be regarded ad the reason why the attempt at empirical verification of equation (8‘) on the basis of Swedish and ^vfcsh data lead to unsatisfactory results?

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