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The distribution of lifetime earnings: a problem of intertemporal aggregation

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  • M. M. G. Fase

Abstract

Summary The main reason to study lifetime earnings as opposed to annual earnings is that the former are purged of life cycle influences. If annual earnings are described by a random variable, it logically follows that lifetime earnings are also random. This paper examines the implications of this statement, starting from the basic assumption that annual earnings of a new entrant to the labor force are a drawing from a two parameter lognormal distribution. It is found that the probability distribution function of lifetime earnings can be derived explicitly if one is willing to define lifetime earnings as a geometric mean.

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  • M. M. G. Fase, 1972. "The distribution of lifetime earnings: a problem of intertemporal aggregation," Statistica Neerlandica, Netherlands Society for Statistics and Operations Research, vol. 26(4), pages 103-111, December.
    • Handle: RePEc:bla:stanee:v:26:y:1972:i:4:p:103-111
    DOI: 10.1111/j.1467-9574.1972.tb00195.x
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    Cited by:

    1. Nelissen, J. H. M., 1993. "Labour market, income formation and social security in the microsimulation model NEDYMAS," Economic Modelling, Elsevier, vol. 10(3), pages 225-272, July.

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