The Personal Distribution of Income

Steindl, Josef

Bibliografische Daten

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Dokumentenart:: Werk

Sammlung:: Nachlass Josef Steindl

Titel:: The Personal Distribution of Income

Autor/in:: Steindl, Josef

Art/Umfang:: Typoskript, 24 Seiten, mit handschriftlichen Ergänzungen bei mathematischen Formeln

Erscheinungsjahr:: 1990

Datierung der Vorlage:: [vermutlich um 1990]

Sprache:: Englisch

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

Signatur:: S/M.52.11

Nutzungsrechte:: Rechte vorbehalten

Zugriff:: Freier Zugriff

21 Outlook on further developments. In this paper the idea has been elaborated that the amount of wealth determines the chances of having certain amounts of income.But it may be thought that also the inverse relation - influence of income on wealth - plays a role. Certainly the increment of wealth per year depends on income,given the rate of saving out of various incomes. If we take into account that the present income is usually strongly correlated with the past incomes of the same person,or even of his ancestors, then it appears that the chances of a certain wealth may be determined,indirectly, by the present income.And we may connect this relation with the regression line of wealth on income (which in the Swedish data appears so very distorted on account of the truncation of the distribution). There are,then, two theories ,and two regression lines. It would be very convenient if we could regard each of the regression lines as a true picture of the corresponding theory. This correspondence is,however,marred by the greater or lesser dispersion of values round each of the regression lines. It can easily be seen that the dispersion round one of the regression lines will influence the shape of the other regression line. If the rate of return of a given wealth is widely dispersed then the persons with a high rate of

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