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

Use and reproduction license:: In Copyright

Access:: Free access

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

Jr to the tail of the recurrence time distribution, : .e. to p . More directly, the vector of steady state probabilities can be derived from the following two conditions: U K = pu K-1 u Q * qu,_ + + <a u o + • • • O) The first condition ensures the invariance of the steady state; the second ensures that entries to and exits from the income population balance. It follows that u£ * p*Si Q (2) u Q »1-p p<1 The result is, of course, identical with the distribution of the spent waiting tine.derived above. \—• We have now to define the income in relation to the class intervals of the matrix: The lower limit of class 1 is taken to be the minimum income. We may choose the income units such that the minimum income is unity, i.e. on the logarithmic scale it is zero. The income y^ at the lower limit of successive income classes k is defined by fc.h H * e or In y^ • kh where h is the size of the class interval on the log scale '. The difficulties arising from the discrete representation of a continuous income variable in the matrix do not concern us here. See fgl/ p. 62.

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