Full text: The Personal Distribution of Income

to the tail of the recurrence time distribution, i.e. to p\ 
More directly, the vector of steady state probabilities 
can be derived from the following two conditions: 
.,t ■ 
u fC = p U K_1 
U o = qU o + qu 1 + qu 2 + •** 
The first condition ensures the invariance of the steady 
state; the seco.nd ensures that entries to and exits from 
the income population balance. 
It follows that 
% - p\ ci ) 
u Q = 1- p p< 1 
The result,is, of course, identical with the distribution 
of the spent waiting time,derived above.

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